Nov. 10 at 8:13 PM
$PBF
PBF Energy may be one of the bidders wanting to buy AMPY (currently
$5.50), main asset, the California off shore oil rig in Huntington Beach, Ca. plus the “priceless” California permits.
I believe there is multiple bidders. PBF Energy, Marathon Oil, Murphy Oil, maybe Chevron too.
PBF Energy and Marathon Oil get oil directly from AMPY oil rig.
AMPY is in the process of selling
$220M in non core assets which equates to
$5.50 per share. The main assets are worth another
$200M to
$350M, which is another
$5-
$8.00 per share. AMPY is a
$13+ stock.
Insiders and institutions have the entire outstanding shares locked up. ( Fintel )