RE:traded my BTE for TOGd_trump wrote: TOG is down 16% in days so I thought TOG at $6.04 is better value than BTE at $9.06.
TOG has much better netbacks ($28 vs $20, before hedging) due to BTE's heavy oil mix
TOG gets a better lift from the low CAD because they have no US ops.
TOG's debt to cash flow is only 1.5
I think CPG's dividend cut has spooked TOG shareholders to thinking that they will cut - they might, but I think BTE has a greater urgency to cut.
Also by swapping the same number of shares, I took about 1/3 cash off the table.
We'll see....
What about TET?? No love for TET. It has held up nicely over the last few days with some nice spikes over $4.00. Have you been trading it at the peaks or just holding. I caught two spikes, one at $4.13 and another at $4.04 this week. Back in higher than I liked at $3.98 and $3.83. I still have a 1/4 position on the sidelines in cash, just in case there is a BIG drop in oil prices.