RE:AMAZING BUT??$3.90 was an irrational beat down. It happens. It was a great buying opportunity.
Now that the Ranger merger is complete, investors are starting to see the bigger picture. The Q2 results only included 11 days of Ranger production. Imagine how Q3 and Q4 will look with these companies fully integrated? At $80 WTI, those Ranger assets will be contributing record cash flow. Raymond James and their $5.50 target price will look silly a year from now. It already looks silly.
BTE had a good run today but this is just the beginning. It could easily go up another 50% to 100% in the next year if the price of oil is stable at $80. The multiples that Canadian oil and gas companies trade at is a joke compared to similar sized U.S. oil and gas companies. Exposing BTE to U.S. investors is going to be a big win for all of us. Thanks to Eric Greager for getting this done.