Nov. 11 at 7:29 PM
$CRC
I think AMPY holds the golden ticket.
In the process of selling
$220M of non-core assets. Excellent, that’s
$5.50 in visible share price value. Done.
Now, the juicy part is the main asset. The California off shore drilling rig in Huntington Beach, Ca and the “priceless” Ca. permits. From what I understand those permits are impossible to get anymore.
What is the main asset worth, anywhere between
$200M to
$350M. Thats another visible
$5-
$8.50 per share in value.
AMPY has additional assets as well.
I believe there is multiple bidders wanting the main assets of AMPY. PBF Energy & Marathon Oil gets their oil directly from AMPY off shore rig so I’m pretty sure they are hardcore bidders. PBF Energy also mentioned it wanted to control assets that will reduce its costs & increase margins. Buying AMPY will achieve just that. Chevron, OXY, Murphy Oil, CRC may also want the assets as well.
AMPY is at least
$13+ share.
Insiders & institutions have all of AMPY shares locked up.
