RE:RE:$50 oil next week as chatter on OPEC cutChief1 wrote: oiltar wrote: BTE is a cash cow at $50 oil. IF so BTE could print $8.50 in $50 oil
. Spoken like a true bull. I'm also very bullish on oil and BTE and have been for quite sometime. All this talk of BTE selling all their Canadian assets when oil is set to recover to $50-$60 is just nonsense. With oil over $50 Canadian assets will be their big money maker. And if lower for longer does persist which I don't think will happen mainly cause of lack of investment and disruptions . They've kept the wolves off the door this long and judging from their hedging it also appears management is also very bullish on oil. They still have the sale of 1200 bod to announce and this should help pay down some more debt or give them some capital to play with in case of a quick oil recovery. I'm also holding through the OPEC meeting betting on some positive decisions being made. Baytex might of got a bit of punishment the past few weeks by the market and the short attack but once oil hits $50-$55 I'm sure they'll be rewarded by the market and get their mojo back. Those waiting on the sidelines waiting for $3-$4 are just getting to greedy and are missing a big run up. They had they're chance to get this in the 4's but some chose not to take it. Holding long and strong here in Blackgold country. Glta
The Eagle Ford play will be very profitable at $55+. I agree with you. There was a sharp selloff that was overdone but it is bouncing hard. Once we see $50 oil again, big money will start flowing back into BTE and we will be off to the races again. I get excited when I think about what this stock will be trading at when we see $60 next year.