From I IV board Bellatrix Exploration Slips 3.9% After JV Extension
By Divya Balji
April 23 (Bloomberg) -- Bellatrix Exploration fell as much
as 3.9% to lowest intraday since April 18 on 65% 3-mo. avg vol.,
after co. reported post-mkt yday 30-day extension to Korean JV.
* Any weakness in shr price presents buying opportunity:
Macquarie
* Potential uncertainty around arrangement will create
overhang on BXE CN, mgmt still expects deal to close
* Should JV fail to close, BXE CN’s negotiating position
w/ other parties will be slightly weakened
* BXE CN up 42% YTD vs SPTSX down 3.1%, STENRS down 1.9%
* BXE CN has 11 buys, 1 hold, PT C$9.25: Bloomberg