SP collaspeHere's my take.
They cancel the dividend, announce they are buying back shares and watch the SP drop by 50%
Long term shareholders see value in the assets at the current levels (60% off) This could also mean buying opportunity for them to buy further into the cardium play at cheaper prices.
That's the bearish
Not including all the people currently betting on this! Including TD newscrest with their current HOLD. Short Interest has never been HIGHER.
https://www.dailyfinance.com/company/petrobakken-energy-ltd/pbn/tor/short-interest
Bullish is that they find new capital (since they have/will spent all of their 2011 available credit lines) out of the blue, and issue 50-100 mil shares and increase the capex or pay down their line of credit.
Their you have it.
I see value in the cardium play with this stock, but I now see a slaughter coming up and he who has all the money wins.
Split option bet is what I'm doing. $14.00 calls and puts out in JAN. It's a straight bet on John Wright.
Right or Wrong (Up or down). I'm getting PAID
Just too bad Canadians don't value their oil deposits more