GREY:BXEFF - Post by User
Post by
anticlineon Jul 21, 2016 12:49pm
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Post# 25072745
Whats next?
Whats next?So, the saga continues. Orange Capital bought in with the intent to increase shareholder value and make sure there was no further dilution. Orange Capital then decides to close shop and sell shares and resign from board. Next thing we know BXE comes up with a capital raise which means dilution.
So that's the bad news. The good news is that 50% of BXE's production comes from Spirit River. If you look at the value other Spirit River plays get per flowing boepd you would deduce that BXE is grossly undervalued. Their problem, thus far, is that the market does not think they are skilled operators in the lines of a Mike Rose or, if we may dream, a Darren Gee. The market doesn't give them more than a fraction of the flowing boepd of other players.
If BXE executes as planned in Spirit River they should round the corner and bring lots of low cost production on line. If they can show some focus and operational acumen they can do great things. Lets hope ...