TSX:BTE - Post Discussion
Post by
Realdude on Jun 13, 2024 12:22pm
Misinterpretation of News is Super High.
Number one oil is down and yet there are Roman candles fired from Lebanon onto Israel. Yet hardly mentioned in the news. I guess because the attack is just a bunch of simple fireworks for now.
Number two the IEA is correct when it's says the US is to blame for overproduction of oil. Where the hell has every body been living the last 10 years. Shale oil has canabolized OPEC efforts. And shale oil will do it again. US oil will not be kept in check because the exuctives of shale oil are simply ignorant. Just look at all the oil they are producing even right now with the rig count down. So don't blame IEA for anything just look at the numbers.
Number three the CEO of Baytex has taken too long to integrate eagle ford assets therefore costs are crazy. Further he says buybacks are a plan but facts state otherwise and furthermore Mr. Market is saying pay back debt instead of buybacks. CEO is clearly not listening. And finally the CEO needs to offset assets that elevate synergies allowing organic growth within the company. He neither knows how to do that or is clearly incompetent.
Unfortunately my analysis of this company stands- dead money until December or first quarter next year if wti oil stays around $75 . Long Baytex guys.
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