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Oil and Gas Discussion BB
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Re: Crescent Point to acquire Legacy for shares, debt worth C$1.53 bln The oil stocks I follow are typically valued around $70 oil. I see a correction if oil does not go above $70 soon. CPG stock is well over-valued and the management is rushing to use the overvalued paper to buy real assets. LEG assets have quite high operating cost. On surface CPG is probably overpaying by 25%. But because they pay by overvalued paper, the result is still somewhat accreditive to CPG share holders. Though I won't buy CPG stocks. There are much better investments in the market. |
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