RE:RE:your guess of BTE SP by end of 2016 ? and end of 2017?@unlucky - your math is way off. If WTI was $70 by year-end, BTE would be much higher than $7 because of their leverage. Very, very roughly:
Lets assume BTE's netbacks are currently $15 per BOE. If prices suddenly popped to $70, most of the incremental $20 would add directly to their netback (the only cost that would increase is royalties). So lets say their netback is then $30 per BOE at $70 WTI.
Their current EV is approx 3.2B - if their netbacks doubled, their EV would likely increase by about 50% to 4.8B. 4.8B less 2B debt = 2.8B market cap = $13 per share. There are other factors and this is just a quick seat of the pants analysis but at $70 WTI BTE will be at least doubl digits.
BTE will get to $7 long before WTI gets to $70.