At Bison, we look for heavily discounted oil and gas equities with good assets, survivable balance sheets, proven management teams, and imminent catalysts to help close valuation dislocations in public markets. This sometimes involves buying equities with core businesses trading at low valuations that also have secondary assets that could be worth a significant portion of their current enterprise values. We believe these offer a degree of downside protection and may offer revaluation trajectories less tied to short-term commodity price movements.
Thanks for sharing the thesis, how do you feel about the thesis now did something change over the last six months or is it an even stronger case for buying Journey energy?
Well formed analysis of an obvious under appreciated junior who is making v all the right moves.
Thanks Josh
Great piece, Josh. Thanks for sharing your thesis as it develops!
Thanks for sharing the thesis, how do you feel about the thesis now did something change over the last six months or is it an even stronger case for buying Journey energy?
I am invested in Journey so hope you're right, but how can it make sense to value the Mazeppa asset at ~$90M when they just bought it for ~$4M.
Hi Josh,
What's your opinion on the deal Vital announced yesterday?