RE:RE:BrookfieldBrookfield's ownership stake has always been a double edged sword. When times were good, it allowed them to move quickly and efficiently in selliing non-core assets (snubbing) and purchasing supposed better ones (drilling).
But for this thing to go forward, you need other investors interested. Who is going to purchase a 4-5% stake when no matter what happens their voice will not be heard. The options issue has already been stated.
Now that times are tougher, Brookfield will hold on to the assets of the company and keep the dividend as high as possible without busting it. In other words they are using the dividend to justify a long term hold on their interests.
It has even been stated over a year ago, by several analysts (1 was a top pick on BNN back then) that for this to move, Brookfield would have to divest itself of some of the stock thereby increasing the free float interest via liquidity.
I'm not hammering the stock, just analyzing why I got out of it back at 44 ish. I'm a local boy with this stock and rode the rise and a good portion of the fall. The only thing that will get a rise in price now will be an outside interest (which Brookfield doesn't need), or a rise in contracts going forward. For that to happen you will need a considerable rise in the price of oil and gas.
I am out for now, but always watching. Like the oily stuff that I still have, I think this is a time to just close your eyes for 6 months at least.
And btw, I've noticed that their hiring signs have been removed from all the entrances into GP and on the bus stop seats, and on the side of the fence to their yard.