RE:Cj is dirt cheap
It's interesting you mention that. There's discussions on the BTE board on hostile takeovers. Apparently Chinese private investors, those who bought in the various bankrupt assets of LRE, LTS, TBE and others are on the hunt and are using brokers to drive down the prices of various oil stocks.
If you look at the attack against BTE, IPO and, most recently CJ, it certainly supports the thesis that light oil assets are being hunted down in an aggressive manner?
What would long term shareholders accept for CJ? I know what I would take for BTE and it's wouldn't be cheap prices at WTI over $50! Let alone with WTI oil prices above $60 which $75 Canadian dollars
I really think CJ and BTE are two of the best oil stocks at their relative price. CJ is much safer but BTE appears to be held down even more? I'm not sure that's any comfort to the long term holders here. But I know exactly how you feel since I rode down BTEs averaging down all the way.