RE: BUK - depends on starting pointAt least you checked some facts this time
- 0.21 to 0.95 seems an interesting return to me, wouldn't you agree? If you'd bought at 1.25 I can appreciate the difference in perspective
- Including Idaho they will have about 145 mln shares, that's perfectly acceptable for a company that has one field in production and can make all their debt payments until mid 2010. 90% of your assumed shares are irrelevant until 0.95 CAD, forming a hollow argument
- BUK notes less then 1xcf - that is Cash Flow, not potential production a year from now
BUK has it's problems but between 0.21 and 0.95 there's lot's of opportunity. Their debt is an issue but manageable, they can make debt payments and still invest a bit. Following a sale or decent farm-out the banktrupcy fear will ebb from the share price. This spells opportunity
To me at least - you do what you want. But bring up some better arguments than possible dilution at 4x the current sp.
Cheers,
R.