Re: TBE "You guys still on this board, you all need a life lol"
You are right. Time to move on. For TBE, it's all going downhill from here. Que sera, sera.
I tend to be concentrated and selective though. I use the investment punchard approach. After a long look, may plunge. Maybe helpful to look back. Especially for the cyclical/distressed stuff.
Interesting link versus what some thought in late 2015.
https://business.financialpost.com/investing/investing-pro/nothing-good-happening-in-the-oilpatch-but-things-can-quickly-change
Moving forward to now when the O+G industry seems to be out of the wood with rising permits/rig counts etc. There is even a pickup in M+A activity.
Helpful link for the retrospective mind.
https://www.haynesboone.com/~/media/files/energy_bankruptcy_reports/2017/2017_oil_patch_monitor_20170220.ashx
These guys look at O+G bankruptcies in NA since the beginning of 2015. The number of "events" is clearly levelling off. With the downturn, there were many survivors. Some did not make it. TBE is the last recorded CDN player to drop. TBE did not quite make it. There are other interesting names in that list: Spyglass, Argent, Sandridge.
Perhaps boring and even a waste of time, but looking at some details of the unfortunate ones helps to strengthen the foundation for future opportunities. Maybe?
It's nice to think about this when things are quiet. Sometimes it can rapidly get messy.
“Opportunity doesn't make appointments, you have to be ready when it arrives.”