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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Do you recommend holding Enerplus until the close of the deal ? Are there restrictions on ERF insiders and employees on selling their CHRD shares as soon as the deal closes ? If I do not stick with CHRD, I would like to keep these funds in O&G. What are your favorites in this sector. I own WCP, CPG, TOU and the pipelines. ERF is currently held in a TFSA. Thanks.
Read Answer Asked by Mark on May 24, 2024
Q: Hello 5i, I own Enerplus but do not want the CHRD shares there is a special dividend to be paid payable to shareholders of record at the close of business on May 30, 2024 . The ex-dividend date for this payment will be May 30, 2024 . The Special Dividend is intended to equalize the amount of quarterly. The transaction of the takeover is I think May 31/24. Would I be able to sell my shares May 30/24 and still qualify for the special dividend?
Read Answer Asked by Michael on May 24, 2024
Q: I had asked a question about the 'equalization dividend' for the Enerplus deal. I subsequently spoke with ERF investor services and was informed that the Mar 19 dividend from Chord is not included in the calculation, so the equalization will only be based on the June 5th dividend. The equalization amount will about .233USD and will only be paid to shareholders of record on the date that the deal closes, likely May 31.
Read Answer Asked by Mark on May 16, 2024
Q: The ERF news release on Feb 21 included this note "It is anticipated that the quarterly dividend payments made by Enerplus until closing of the transaction will be equalized to those made by Chord, after giving effect to the exchange ratio, through an additional Enerplus dividend declared shortly prior to the closing." Chord's dividend payment on Mar 19th was $3.25US and the next payment on June 5th will be $2.94US. Using the share exchange ratio in the deal of .10125, should I be expecting a special dividend from ERF of about $0.50US ? ((3.25+2.94)*.10125-.065-.065)
Read Answer Asked by Mark on May 15, 2024
Q: Which 3 Canada Energy stocks (besides SU and ENB) do you currently favour for a 5-10+ year hold?

Please feel free to suggest a company not present in the stock list.
Read Answer Asked by David on May 01, 2024
Q: I own shares of Enerplus (ERF), which is being bought by Chord (CHRD). My questions are: (a) do I need to do something active (i.e., tender the shares) and if so, by what date? (b) since I will receive some CHRD shares as well as cash, does it make sense to have my ERF shares reside in the U.S. side of my brokerage account (while waiting for this transaction to close)?

Ted
Read Answer Asked by Ted on April 26, 2024
Q: Hello 5i, Could you comment on the deal between Chord and Enerplus also if there is any chance that Devon could come in with a better offer. I own Enerplus and would like to know if to sell into the current market or hold for a better offer?
Read Answer Asked by Michael on April 08, 2024
Q: Please update the current situation of Chord's take over of Erf. When is the expected closing date? What is the take over value for Erf.Please show u calculation. Are there others interested eg Devon?Your last advice was to hod,what is u advice now?Note that price of Erf and Chord have risen since announcement around Feb 22.Of course Wti price have risen quite nicely since then. Txs for u usual great advices & services
Read Answer Asked by Peter on March 26, 2024
Q: In one of your answers yesterday, you intimated that the sale of Enerplus might not be a done deal. "Devon is a much larger company than CHRD and if it wants ERF it likely could top this bid. .... This one may not be over." The press release announced that both boards unanimously approved the deal. Are you aware of the size of the breakup fee ? Do you know who the largest shareholders of ERF are ? As an ERF shareholder, I agree with your assessment that this is not a great deal.
Read Answer Asked by Mark on February 26, 2024
Q: following chord buyout enerplus and several 2023 deals can you suggest/speculate
possible future targets , i am thinking wcp, tve, bte.
thank you
Read Answer Asked by howard on February 22, 2024
Q: Txsfor u great view to my Q on ERF on Feb 5.After market close today announcement that Chord is acquring ERF and it rose close to 10% on its US listed shares in after hours. Devon was the rumored suitor in early Feb.Please comment and advise me what to do,Reports Q on Feb 22 after close.Txs for u usual great services & views
Read Answer Asked by Peter on February 22, 2024
Q: It appears that Devon Energy has expressed an interest in purchasing ERF. Could you look at potential synergies for this deal and provide any additional views (eg. any other potential suitors?).

Many thanks.
Read Answer Asked by karl on February 08, 2024
Q: I own these energy stocks and some are on the plus side and others are on the losing side. I've been waiting for quite some time for the Chinese economy to take off, but it seems to go nowhere ? I would like to trim some of my holdings. Please place them in order of what you would keep down to some you would let go. Maybe you could code them as 10 being the best and 1 as being the worst. Thanks.
Read Answer Asked by Frank on January 30, 2024
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