RE:can't figure thisI wonder if the short thesis is tied to the massive net speculative long position in crude. the last few times we've seen this much enthusiasm for the commodity the bottom has fallen out and producers have tanked. if that's why people are short, they're in trouble IMO. Inventories are being drawn down rapidly and the current market is obviosuly tight (backwardation!). cost to maintain the short is like 10%, for downside of what? I think generally, world economies are reasonably strong and consumption is rising.....IMO, it's within the realm of possibility that WTI averages more than $70 for 2018 and Bonterra exits the year with a much cleaner balance sheet, a higher dividend (company's mandate is to pay out 50-65% of funds flow....though they have been more focused lately on debt reduction) and growing production.