Twin Butte Energy Ltd TBTEF

RE:RE:Too many consective closes at the bid price

[bshort92]

This outfit has bigger issues than MS painting the close every day. The short position continues to grow as another share price meltdown looms once the reserves are restated and cratered down to nothing. You can't hope for upside if you don't drill. To reiterate these guys are not pulling licences hence they are not drilling. Bringing in those two superstars from PWT was a waste as they have no track record of success in medium and heavy oil production. Furthermore they can't drill because they are maxed on the credit facility. They can't borrow to fund an acquisition because the reserves have been wiped out. They can't do a bought deal because no one will lend to them. The cash flow is constrained amid $100 + WTI because they hedged too much and at too low a price. The only direction the share price can go is down.Lets just put on our brownshirts and jackboots and go down to the beer hall.