RE:What the he ll is going on here? GotNoPension wrote: What's going on here exactly? Are insiders buying or selling? Anyone know. I don't have access. Something's fishy about the stagnant share price. I wonder if Nutall is selling out!!
Is it really that fishy? WTI is at about $80 and BTE is at about $6.00 a share. Last June WTI briefly traded 50% higher at $120 a barrel and BTE also briefly traded 50% higher at $9.00 a share. Considering the hell that Biden put WCS through, I would say that everything looks normal.
All of the regular pumps on BNN last year by Eric Nuttall implying that this stock was going to double caused BTE to get a little ahead of itself. You cannot expect the share price of any company the size of BTE to move up 100% every 6 months like BTE did during the first 6 months of 2022. BTE and WTI have both been in consolidation mode the last couple of months. If you look at the MACD for BTE, it looks like it is starting to head back up on the next run. An almost 10% increase since the January 4th low is not that bad.
WTI will likely head up this year. With no more SPR oil being released, WCS has quickly gone from $45 to $60 in just the last 6 weeks. This is going to have a very positive effect on the cash flow of Canadian oily companies like BTE. The share price will follow.
The party is just starting. Think positive. The fundamentals of BTE are still the same. If Eric thinks this puppy is going to the moon then it is going to the moon. I do not see Ninepoint Partners selling. Some of the top investors of BTE have been adding significantly to their positions. Buy on weakness.