GREY:BXEFF - Post by User
Comment by
Naamkaton Jun 09, 2010 10:06pm
477 Views
Post# 17175364
RE: RE: nada
RE: RE: nadatinman 8 et al:
It's not the negative spin that's caused the decline in share price, it's the lack of previous excessive positive spin about the Cardium.
Take a look at the share price of Petrobakken, the quintessential resource oil player in Western Canada.
They bought everyone and their dog when their share price was at ludicrous valuations. When it bought Berens on Jan. 4th, it was at approximately $32.25. When they bought Result, it was $32.50.
Today, the poster child of Bakken and Cardium are at $22.94. Their all-time low was on May 25 - $22.50. Basically they're off 1/3. Why does it surprise you that Bellatrix is doing the same thing? Nothing goes up in a straight line and the paper profit in this company post the 2008 gas bust is ginormous.
My sense is that it's a reasonable buy under $2.75. I've got a few, would be willing to own more at that level.
Regards,
Naamkat