Like I said last week not a normal arb play
The arbs have abandoned ship here. Anytime you see Jitney selling you know they are moving out of this as the money here were will be dead for sometime (who knows maybe 3-4 weeks) so are moving on to other things.
When the deal looks closer to getting done, they will be back but until then with the market giving money away at Baytex, Paramount, Crescent Point, Painted Pony and endless more companies in the patch at the moment they have moved out there to play the momentum.
If you believe this with close at .52 like I do sometime in April sit back and relax and even add some more at whatever price you feel comfortable with but it looks like we will be in the .45 range for a period of time with sellers outpacing buyers.