AVG COST
on the US side years ago - when WTI was ~ $100 - I had 800 shares at $55 - back when they paid a div and collected $4600 in divs. When things started tanking I traded a bunch of chunks and costed down and now have 2800 at ACB $5.02 US. My lowest buys are $3.83 and $4.03 US. I also have a very small CDN chunk of 250 shares at $4.60 CDN. I also owned it MANY years ago when it was a CDN Income Trust and did very well with it. Most here probably don't even remember that far back. And way back then WTI at one point was driven down to $10 due to a fight between USA and OPEC. Because I know BTE is in NO DANGER anytime soon of going bankrupt and they have very accommodating CDN and US Bankers who have had no difficulty in supporting BTE by adjusting lending terms when needed I have no difficulty in waiting for the slaughter to work its way thru and adding to my positions. The company is getting $50 US guaranteed for its Eagle ford oil and its break even cost is only $30 US. On the AB oil that it ships to the US its getting $50 US plus a 25% boost on conversion to CDN$ and most of its debt is CDN$ debt. Their Bankers have a 3rd party NAV on the assets of $15 CDN so they are highly unlikely to force BTE to sell anything at fire sale prices just because a bunch of US short sellers have decided to carry on what is probably illegal naked short selling which we all know the US regulators don't enforce the rules. The stock price has nothing to do with the actual fundamentals of the company. Remember back when SP dropped under $2 and WTI under $30 and all said BTE was going bankrupt in 3 months blah blah blah....and all the US analysts said no way they could cut costs and get Bankers on side...the only ones that went bankrupt were the US ones they kept pumping at big losses and did no cost cutting...and most US ones now in shale need more than $50 to break even...they still haven't cut costs enough...only 2 areas in US shale than can make money at under $50 WTI...small area in Eagle ford and in Permium Basin.... Even Chevron is cash flow negative still and needs to keep borrowing billions every Q...BTE is FFO positive and FFO is covering Capex and some debt reduction...plus replaced oil for 2016 by 205% and is going to have 5% increase in production....not bad for a company that was supposed to be bankrupt 3 yrs ago according to the USA genius analysts and short sellers.... Oh and BTW they don't have to take on more debt like the US guys have to keep doing...their hedges and cost cutting means their FFO will cover their capex and some debt re-payment... So I'm just sitting back and waiting for the panic sellers to blow their brains out...I've been thru this before....many times since 1988.... And final word of advice...I never over load in any sector or any company and I always keep ~ 15%+ cash...Cash is a cheap way to short the markets...I never do shorting...