Schulich selling BIR and buying PGFHi Ramman1
Perhaps we are seeing continued selling by Schulich today in Birchcliff.
Just wondering if you are up to speed on the dispositions of Pengrowth in the Montney and their proximity to BIR? I'm sure you've read the post by likegrowthstock on the BIR site. That article, written by none other than Gwyn Morgan, is obviously sympathetic to Schulich; he is likely a good friend besides. Morgan was former CEO of ECA before the split. This PGF sally looks like a classic short squeeze by Schulich though he did say there were certain regulatory restrictions placed upon his PGF purchasing activity.
Thing is there is absolutely nothing wrong with Birchcliff and if Schulich shrinks his BIR holdings to wage war on the shorts on PGF it could create quite the opportunity. From wherever it lands however, I guarantee you there will be quite the bounce in the opposite direction. And I don’t think it’s far fetched either when I said in an earlier post that Schulich could replace some or all those BIR shares with call options. GLTA