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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 32,000 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 in 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

Post by JohnJBondon Sep 26, 2022 1:44pm
256 Views
Post# 34987048

An unexpected opportunity

An unexpected opportunitySometimes opportunities appear.

At the open I watched oil prices improve, and OBE strengthen.  

Very high volume took place with CPG and BTE in the first 30 min - with their prices holding pretty stable.   Suggesting margin type selling and buyers competing to buy those shares (aka a bottom).

I thought whatever margin calls, herd behaviour etc occured on Friday had passed.

WTI climbed back over $80 - then it all of a sudden, it got sold off hard.

Next thing you know, OBE was in the high $8's - and there I was suddening buying for family members accounts!    That is what happens when one of those surprize sales happens, one that is so good you end up buying things you don't need.

We'll see what happens next - but historically that seems to be a sign of a flash sale.




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