He was the one that cemented the relationships with Asia in the first place. Murray was not given the boot because Bill Andrews is still on the Board. He took Penn West from 500 barrels to 165 000 BOE. He is a key figure in the " behind the scenes " negotiations that will result in the take over. John Brussa is there for the tax expertise.
Petronas had an interest in Progress before the 86 % premium deal was announced. This deal will be at least 100 to 110 % because thats the margin required that will be needed to take out the dominant player in four of the five biggest light oil plays in Canada. So again I ask you why are the analysts killing the stock? SIMPLE, they are loading it as much as they can. The difference in the 50 dma and the200 dma is only about 1.80. It will break 12 , then 14 in a week. There is a deal coming people.
How soon was the Nexen deal announced after Progress, maybe two weeks. Acquiring parties are not looking for the best execution per se, they are looking for VALUE and LONG LIFE RESERVES. Notice how all the analysts are poo poohing the payout ratio of Penn West and are having a love in with Crescent Point. Crescent Points pay out ratio is even more unsustainable. Its relying on its paper to buy growth but its about to drop too. Once its paper drops it wont have the firepower to buy any more and its reserves are no where near as long lasting.
I have sources all over the HQ and the buzz is Penn WEst at 20 to 25 and offer coming before end of January.