Expectatiions?The whole sector continues to wait for any indication about the future price ladder for product; and for the feds to actually come through with their promises of assistance in toughing out the time until prices do recover (which they will; we all are counting on that. The feds are a different story.)
The whole country waits for any number of shoes to drop politically. Our deficit and debt numbers are now off-the-charts staggering. There is no evidence that government has taken this in, or has any plan to address fixing this. Trudeau is in in cloud cuckoo land and the financial institutions and markets that are trying to get a handle on their energy loans are now even more distracted trying to judge what is going to happen to the economy and our currency. The US election is also a factor.
Obsidian has made its hostile offer; Bonterra's response is pending, although I expect it to be a rejection. I understand that ALL interactions with the feds are mired in molasses, and it is likely that Bonterra's is still pending. We are now at the end of the third quarter and all concerned will want to see what both what Bonterra and Obsidian have to show. I would expect more informed and detailed analysis or both companies and the proposal will be forthcoming with this.
Subject to unexpected developments, I expect that the redetermination will be pushed off for 45 days; i.e. subsequent to Bonterra reporting its third quarter results and, I predict, the outcome of a special shareholder’s meeting for Bonterra. Might also be curious to see when Obsidian will seek concurrence from it's shareholders; for this appears to be a real roll of the dice here for them.