Birchcliff Energy Ltd T.BIR

We would be in the Highe $8.50+

[SadieLadyCO]

but, some just wanted the Div and is selling into high prices.

[newtonboy]

Usually the share price goes up on the days before X divy (today) but in this case the price dropped over 40 cents with over 18 million traded yesterday, and today its up abit. Wondering why the sell off prior to the bonus. It's my understanding that shorts would have to cover the divy if the shares are borrowed. Last report states over 13 million shorts. Maybe Mr.Tonken should rephrase his

[RJboxer]

If you think that BIR is scraping the lows on its share price, as I do, then the current price of NG and Brent (as it relates to their 5,500 bpd Condensate production) on the forward strip means they can pay all future dividends out of FCF vs borrowing. The fact they are completely unhedged starts working for them in they have a very high torques to these higher prices. Under this scenario, the

[robert41]

I wonder if that 10 million share cross at bmo was a short doing an arrange trade to a long. I guess we'll find out when the new short report comes out next week.

[robert41]

Hi phrase is actually the road to hell is paved with hedges... I'm sure he'll re think that down the road