Obsidian Energy Ltd T.OBE

Alternate Symbol(s): OBE

Obsidian Energy Ltd. is a Canada-based exploration and production company. The Company operates in one segment, to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin directly and through investments in securities of subsidiaries holding such interests. It has a portfolio of assets producing around 35,700 barrels of oil equivalent (boe) per day. Its operating areas include Cardium, Peace River and Viking areas of Alberta. Its Cardium asset is a fully delineated and de-risked asset. It is focused on manufacturing repeatable low-decline and high-netback light-oil wells across its Cardium land base. The Viking is a light oil, horizontal development play located in central Alberta. Its operations are focused on the Esther area. Peace River is a stable, cold-flow, base production asset. It operates on a contiguous and an acreage within the heart of the Peace River Oilsands region.

TSX:OBE - Post by User

Obsidian Energy Ltd

Bullboard Posts

Comment by makedonkaon Sep 24, 2017 6:59pm

350 Views

Post# 26735777

RE:RE:RE:RE:Insider Buys

Scottie99 wrote: I did not know they have been issued a delisting notice and presume that would be the NYSE because the share price has to be above 1USD, otherwise, you are out!

Guess this is the second or third time this is happening and they escaped the last time because they sold assets to pay down debt and so got a good bounce that seems to be dissipating with this SEC lawsuit overhang. I have a feeling French would be using corporate lawyers to work out a settlement with the SEC and get it over with so the share price can go up again. I am not sure he would be selling any assets to avoid this delisting but if they don't settle this SEC charges as soon as possible, the stock might not be able to make the 1USD mark before the delisting deadline.

Anyone know how long the delisting notice is for before they are kicked out? Anyone know if the SEC has filed the charges in court and when the trial might start? Hopefully, they can announce a settlement before it gets to that stage. The SEC would still go to court to enforce any settlement but it would be quick and done with. It is going to be a race to the top for French between avoiding being delisted before the deadline and settling the SEC before a trial date is announced.

I observe that Makedonka has been quiet and her daily news recyling has reduced. Hopefully, she can keep it that way because there is no way you can explain away the impact of the delisting deadline and the need to avoid a lengthy trial with the SEC. This bird is about to be turned into a kiwi if French don't act fast and that is putting it nicely!

blindbullslose wrote:
The SEC lawsuit matters. The delisting notice matters. OBE still is a bit light in production relative to interest costs. OBE still has to prove value in water flood and new areas. Realize that dorka has been long oil and OBE since 2012. Her repasts are of no value. Years of them have shown that. If OBE executes, oil goes higher and the E+P sector regains favor, it can go up but it is still a very small fry in a very large space and there are better picks.