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   Strategies & Market TrendsSpeculating in Takeover Targets

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To: Paul Senior who wrote (5159)4/13/2019 5:45:05 AM
From: Labrador
   of 6155
Paul - I am unfamiliar with this company. Last week (Thurs/Friday), there was a big 20% move up. I could find no news - do you know why?

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To: Paul Senior who wrote (5159)4/13/2019 9:12:23 AM
From: richardred
   of 6155
Very interesting development and speculation. Until your post, I was previously not familiar with this company. With only one employee I saw listed? Sounds like they would rather sell than develop (costly outlay IMO)the land themselves. Currently I have only one energy company left in my portfolio. That is CHK through the acquisition of my Wildhorse stock for CHK stock. I was also speculating on JAG and a few others. My call Options expired worthless on JAG. JAG also being mentioned again as a target, However more recently now. I was very disappointed in the price offered for Wildhorse. Thanks for the dig. I'll be watching. The Chevron mega merger announced yesterday has stirred up acquisition interest in the sector again. This along with higher oil prices and geopolitical tensions in some hostile oil producing countries.

My last visit to Alaska, on the Alaska Railway. I meet and got talking to some Anadarko employees. They said the were headed to Texas from Alaska because that's where the action was.

Message 31860444

PLANO, TX / ACCESSWIRE / April 11, 2019 / Torchlight Energy Resources, Inc. (NASDAQ: TRCH) (''Torchlight'' or the ''Company''), today announced that the Company has received the final petrophysical report relating to its Orogrande Basin Project. The report will be utilized in the delivery of due diligence materials to industry suitors for potential M&A discussions with Torchlight. The final report, prepared by Stimulation Petrophysics Consulting out of Denver, outlines the potential recoverable reserves from the unconventional zones on Torchlight's 134,000 acres in the Orogrande Basin. The Orogrande is the western most sub-basin of the Greater Permian Basin.

The extensive report outlines a range of recoverable values based on standardized recovery factors. Described in Potential Barrels.

Low Case 2.321 billion BOE: Recovery Factor (7%)
Mean Case 3.678 billion BOE: Recovery Factor (11%)
Best Case 4.975 billion BOE: Recovery Factor (15%)

The following updates were previously disclosed:

  • Additional potential of up to 20,000 acres of multiple conventional structures, based upon seismic, gravity, and magnetics
  • Potential for up to 10 distinct unconventional and conventional hydrocarbon pay zones throughout the Orogrande Project at varying depths.
''We are pleased to provide this substantive update to shareholders and the broader oil and gas industry,'' stated John Brda, Torchlight's CEO. ''Torchlight's board of directors and management feel that the third-party evaluation and resulting estimate of 3.7 billion barrels of potential recoverable oil at a 11% is a significant revelation. Although the cost to acquire the voluminous amount of science needed for this 3rd party evaluation was quite significant, we are obviously very pleased with the end results. It is unique to find a new basin predominately owned by one exploration company and with agreeable lease terms such as those we have with University Lands. As we enter and continue discussions with suitors, Torchlight will better define the current market value for one of the largest virgin onshore oil and gas basin discoveries in the United States in recent history. We look forward to reporting the impact of such value to our shareholder's ownership.''

Torchlight intends to provide subsequent updates regarding further analysis and additional data relating to its Orogrande Project marketing process in the near future.

About Torchlight Energy

Torchlight Energy Resources, Inc. ( NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit

Forward Looking Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP Natural Resources
Phone: 512-270-6990

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To: Labrador who wrote (5160)4/13/2019 11:08:28 AM
From: Paul Senior
   of 6155
News from the company is found in my link.

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To: Paul Senior who wrote (5162)4/14/2019 6:12:07 AM
From: Labrador
   of 6155
Thanks for the note Paul. I was looking at the Company's financials and they're audited by an accounting firm that I've never heard of, Briggs & Veselka Co - a small Texas public accounting firm. I must admit that I was a bit skeptical of relying on a small unknown (to me) accounting firm. I looked them up on the PCAOB web site and the firm's last review was in 2016 and at the time they had 7 public companies and 2 were reviewed by the PCAOB. They received a clean bill of health - namely, no deficiencies were found. Although Torchlight's audit could not have been a selection since Torchlight became an audit client in 2016, I think that the quality of this audit firm is likely excellent. Just an FYI.

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To: richardred who wrote (5157)4/17/2019 12:52:07 AM
From: richardred
   of 6155
SFS- Speculation- BULLEYE TODAY- I knew full well going in, if this speculation was to occur. The premium would be small, It was. On a positive note it's a cash deal, and my time holding was short. I haven't looked into details yet. Such as a shop around or breakup fees should a White knight appear. Ahold IMO certainly will be looking IMO. However they might be a little tied up now with the on going Stop & Shop strike.

Smart & Final agrees to be re-acquired by Apollo for $6.50 a share

Smart & Final Stores Inc. SFS, -1.64% announced Tuesday afternoon that it has agreed to be acquired by private-equity firm Apollo Global Management LLC for $6.50 a share in cash. Smart & Final stock closed Tuesday at $5.39 a share, and popped more than 18% higher in after-hours trading to reflect the agreement. At $6.50 a share, Smart & Final would have a market cap of about $500 million. Apollo previously bought Smart & Final for $22 a share in 2007, then sold it to Ares Management in 2012; the company went public in 2014, but was still majority-owned by Ares. Ares has committed to tender its shares in the acquisition.

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To: richardred who wrote (4628)4/17/2019 10:43:02 AM
From: richardred
   of 6155
RE-QCOM failed merger

Just goes to show sometimes based on QCOM current stock price in reaction to recent developments . A quick takeout is not the answer. Congrats to all QCOM holders who held out. Reminds me of Illumina Fending Off Roche’s Hostile Bid and later a tremendously higher ILMN stock price.

To: richardred who wrote (4627)11/6/2017 8:27:46 AM
From: richardred Read Replies (1) of 5164
Broadcom makes unsolicited $130B bid for Qualcomm in largest tech deal in history
Terri Cullen | David Faber
Published 1 Hour Ago Updated 19 Mins Ago.

Broadcom makes unsolicited bid for Qualcomm in largest tech deal in history 39 Mins Ago | 03:33
Broadcom on Monday made an unsolicited offer to buy Qualcomm, in a deal that that would be the largest technology acquisition ever.

The $70 a share bid, equal to more than $130 billion, is comprised of $60 in cash and $10 per share in stock. It also include Broadcom's willingness to have Qualcomm complete its pending acquisition of NXP Semiconductors for more than $38 billion in cash, sources told CNBC, which reported Sunday evening the offer was likely coming Monday.

But the bid stands whether that acquisition is completed or not, Broadcom said.

Qualcomm shares were halted for trading in premarket trade.

Qualcomm's stock, traded on the Nasdaq, surged by more than 12 percent on Friday amid speculation that Broadcom was preparing a bid. It finished the session at $61.81. Broadcom's offer is at a premium of 27.6 percent to Qualcomm's closing price of $54.84 on Thursday, a day before media reports of a potential deal pushed up the company's shares.

Broadcom has been working on its proposal for months — a bold bid to become a dominant supplier of communications chips to the wireless industry — and is believed to have approached Qualcomm privately about its offer, but was quickly rebuffed, sources told CNBC. The company had originally considered an attempt to buy Qualcomm prior to that company's deal to buy NXP more than one year ago, but upon getting no traction at that time, retreated.

Getty Images
Qualcomm Inc. CEO Steve Mollenkopf.This time, Broadcom is determined to bring its offer to the attention of Qualcomm shareholders. People familiar with the company's thinking indicate Broadcom will not shy away from initiating a proxy fight to gain seats on Qualcomm's board of directors in support of its offer.

Qualcomm's annual meeting is currently scheduled for March of next year with the deadline for nominating directors sometime in December.

Qualcomm, however, is expected to strongly resist Broadcom's proposal. People close to the company expect it to indicate the offer price is far below what it would expect in a takeover. In addition, Qualcomm is expected to raise concerns that any combination with Broadcom would raise significant antitrust concerns.

While Broadcom is expected to indicate its willingness to let Qualcomm complete its deal to acquire NXP, it is also expected to encourage the company not to raise its current $110 cash deal to acquire the company. Qualcomm is under pressure from NXP shareholders to raise its bid for that chip company, or face the likely prospect it will not be able to meet the minimum threshold needed to take control of the company under Dutch law.

A tie-up would combine two of the largest makers of wireless communications chips for mobile phones and raise the stakes for Intel, which has been diversifying into smartphone technology from its stronghold in computers.

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From: Paul Senior4/17/2019 1:44:11 PM
   of 6155
SFS. Curious what your tactic is with this one now. Stock's very close to deal price (1-2 cents away), so I infer investors believe high certainty of deal closing.

"The transaction, which is expected to close by the third quarter of 2019..."

I don't have many shares, and I decided I'd just rather have the cash now, so I'm selling out now (at $6.48)

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To: Paul Senior who wrote (5166)4/18/2019 12:18:59 AM
From: richardred
   of 6155
For not having a lot of shares. I think selling out now is good. It will free up your cash for redeployment immediately . I to, also might sell out on the open market, before this deal is completed. One thing I would like to see before I sell my shares. The paperwork shareholders will receive with the tender offer. For one, I'd like to see who gives a fairness opinion about the offer, and why they think the offer is fair. I myself sold out my previous owned shares at greater than 7 dollars last year. The company went public at 12 post takeover I believe. Also I'd like to find out what the breakup fee is. The paperwork might also discuss if there were other interested parties in their strategic sale exploration. Lastly a long shot , but a White knight is still possible IMO. Amazon & Ahold among others, might still hypothetically be interested parties. If they are, they now know what they have to beat, 6.50. plus break up fees. Even though the board agreed to this announced deal. It's still the fiduciary duty of the board to consider a hypothetically higher offer. This past Qtr. ruined 3 previous qtrs. of SFS earnings improvement. I would also be interested in seeing next qtrs earnings. I personally have more than a few shares. So I will go through the motions of waiting for now. Hope this helps.

P.S. Fairness & and breach of fiduciary duties lawsuits are very common nowadays in takeovers. I suspect that will be the case with this company to. I hypothetically thought the company would go for around 7.50 just based on last years stock price alone. I'm still happy with 6.50 if nothing happens.

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To: richardred who wrote (5167)4/18/2019 11:13:18 AM
From: richardred
   of 6155
FWIW-RE-SFS A 90+ thousand share block went at 6.51 a penny above the 6.50 offer. This IMO show some Risk Arbs are willing to bet on a sweetened bid or White Knight.

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To: richardred who wrote (5131)4/22/2019 12:58:25 PM
From: richardred
   of 6155
ENZ-Speculation-Yup 14 million More came today from Hologic & Grifols Diagnostic Solutions Inc.

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