RE:RE:RE:RE:RE:RE:RBC This is a non issue. It's surprising how worried people get over thr slightest BTE news item.
I owned this in 2016 and reviewed the tax news at the time with a lawyer friend. And I talked to him again last year about it, and he believes that there are precedent cases that have already been resolved without the companies paying any of the alleged due tax. According to him, worst case scenario is a settlement for a fraction of the amount due just to avoid ongoing legal costs on both sides. I wouldn't worry about it too much.
But your other point is an interesting one. The company has been corresponding with CRA over this for 13 years with rare updates, if any. There wasn't really a need to update at this point, yet they chose to. Not only that, but they update as the sole item in a single press release. Previously, they just buried information about this tax issue in the quarterly reports.
Maybe they want cheaper inside shares? Maybe they want to be able to buy back more shares before the end of the year? Maybe they have friends on the investment banking side that are looking to take a large position? Maybe they want to facilitate the Juniper sale of shares in December, which is probably an ongoing project right now, and a lower price results in a more eager buyer?
One or more of those are possibilities. I think they are likely disappointed with the market action as it hasn't dropped that much on the news. But I agree, there is definitely more than meets the eye on this announcement.
Wildfury wrote: Greetings Red, 2010-2013 seems like a time period that the CRA has no jurisdiction over Baytex, why now in 2023? As an individual, we have 6 years I believe that the CRA can do a reassessment. It just sounds a bit overdone, will the management involved in that time period be held responsible? This has been released purposely to drive Baytex shares downward. This is a CRA matter and should have been private until the issue is resolved. So this news comes out, my shares take a hit, should I be able to go after the CRA for trying to discredit Baytex?