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PENN WEST PETROLEUM LTD. T.PWT

"Penn West Petroleum, based in Calgary, Alberta, is an independent Canadian energy company focused on the exploration and production of oil and natural gas resources in Saskatchewan, Alberta, and British Columbia. At the end of 2015, the company reported proven reserves before royalties of 208 million barrels of oil equivalent. Daily production averaged 86,000 barrels of oil equivalent in 2015, at a ratio of 69% oil/31% gas."


TSX:PWT - Post by User

Comment by Toast2changeon Oct 14, 2016 12:38am
64 Views
Post# 25342338

RE:RE:RE:RE:Who is Cheuk Fund Ho

RE:RE:RE:RE:Who is Cheuk Fund Hohttps://www.sec.gov/Archives/edgar/data/1334388/000168691716000002/xslF345X03/primary_doc.xml Basically its a financial investor from China named jian qing likely manages the cheuk ho fund. Currently owns 9.8% of PWT. The fund is consistently dumping stock 150k upto 1500k daily. May have been a failed takeover bid, may be averaging down after making significant gains since January, may need to liquidate to invest elsewhere. With 38 million shares selling off at 500k/day we are looking at shares flooding the market until the end of the year. My thoughts on what this will do to the stock price... well its simple PWT did a lot to make itself a better looking company this year. That hasn't changed due to this selloff. The dumping will deflate much of the price volatility and cause prices to flatline until the dumping stops. After which PWT will correct itself based on how it stands compared to it peers in the energy sector. I'm liking the Jan 2018 $1 Options right now. Buying them is like buying the stock at $2.20-$2.30 a share.
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