RE: Did Petrobank Affect Petrobakken Shares this W
It all gets a little complicated when I try to analyze what’s going on.
Assuming TD was acting for Petrobank ... which they may not have been.
Friday there's no doubt following 9:50 am PBN was hit and PBG shot up when TD first crossed PBN and PBG.
Both PBN and PBG have bought back and canceled close to 1 million shares each through April 15 .. PBG have the cash and PBN have the free cash flow since they haven't drilled since mid March.
In my view it adds value to PBG and PBN can't be hurt if they continue buying back and canceling an equal number of shares, …. once the Q1 end trading blackout is lifted.
We'll swing with the price of crude,.
I don't believe PBG's activity will hurt us.
There’s also a pile of shorts that’ll be trying to push the price down.
Which I put at over 14 mil shares and still growing.
Canadian US Total
15 April 9,300,000
2 April 8,960.000 5,098.000 14,405,000
15 Mar 9,044.000 5,098.000 14,142,000
29 Feb 8,930,000 4,754.939 13,690,000
15 Feb 8,660,060 4,592.815 13,252,875
30 Jan 9,902,571 2,004,836 11,907,407
From
https://www.investorpoint.com/stock/PBN%3ACA-PetroBakken+Energy+Ltd%2E/share-information/
And
https://www.otcmarkets.com/stock/PBKEF/short-sales