GREY:LSTMF - Post by User
Comment by
Mastermind_9999on Jul 16, 2012 3:44pm
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Post# 20118468
RE: RE: RE: Foot back ON the brake
RE: RE: RE: Foot back ON the brake yeah, Petrobank has actually increased their share in Petrobakken since they began selling PBN shares and buying back PBG shares. For each PBG share they buy back, they get appx 60% of a PBN share. Plus, PBN has been buying back their shares in tangent...this reduces the overall shares outstanding and further preserves PBG's ownership of PBN.
There is no reason to own PBN over PBG, except for the dividend (which is why I own PBN and not PBG). If PBG spun out PBN today, the PBG stock price would instatntly rise above PBN's stock price (albeit not by that much since PBG's heavy oil assets suck in my opinion and in the markets opinion...although I think they do have some cash on hand).