I am not sure how this dialogue started.....but somebody must have noticed that the stock closed up 6% in a poor oil equity market on Friday and at a new 52 week high to boot. Is it not obvious that the market is beginning to recognize the value in the company's equity?
And is it not obvious that (if Crude pricing remains robust) with a $313 million capex with $260 million dedicated to production drilling with an additional rig spinning away that the stock will easily be over $5 by mid 2014.
There was no celebration after Friday's stellar performance. That is very odd to me! Take a look at some 12 month Canadian oil stock charts and see for yourself.
BC is 100% correct, the market takes time to see the value in a equity and if it does not then a suitor will take it over and privatize it. As TD has repeated over and over, a suitor could pay ~$6.50 for Bankers (a handsome premium above Friday's close) and still be paying less than the 2P reserves ($7.50) and be getting all of the future development for FREE. Very compelling in my opinion. The stock has not been flat for pete's sake it is up considerably this year and still way undervalued so lets be patient and let the $313 million capex do its work next year.