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Bonterra Energy Corp T.BNE

Alternate Symbol(s):  BNEFF

Bonterra Energy Corp. is a Canada-based conventional oil and gas company with operations in Alberta, Saskatchewan, and British Columbia. The Company operates through development and production of oil and natural gas in the Western Canadian Sedimentary Basin segment. Its operating areas include Pembina Cardium and other areas, which include Saskatchewan and Northeast British Columbia. The Company is focused on the development of the Pembina and Willesden Green Cardium lands within central Alberta. It has Shaunavon properties in the Chambery field, which produce medium density crude oil from the upper Shaunavon formation under waterflood. It also has assets in the Prespatou area of northeast British Columbia, which consists almost entirely of natural gas and associated natural gas liquids. It also has an undeveloped Charlie Lake asset that is prospective for light oil in Bonanza, Alberta. The Company has over 116 net sections of contiguous land in the light oil prone Charlie Lake.


TSX:BNE - Post by User

Bullboard Posts
Comment by efficientmyasson May 25, 2018 9:45pm
63 Views
Post# 28083425

RE:RE:RE:RE:RE:RE:RE:RE:Shorts are digging in hard

RE:RE:RE:RE:RE:RE:RE:RE:Shorts are digging in hard
efficientmyass wrote: cash,
the short interest which should be out (later) today will be as of April 15th.

I'm particulalry interested to see what has happened to CJ in the last two weeks as the negative rebate (borrowing cost) in that stock jumped to 13% (+ the dividend) as of last week....BNE cost about 2% + the dividend to borrow.  

If you look at the average price of trades during the period where SI exploded, a big chunk of the position is now underwater. ~$1 .....+ the dividends......+ the 2% borrowing cost.  

Trying to cover BNE on a day like today would be suicide.....i suspect shorts were shorting more to try and keep a lid on it.  We'll know they're bailing on the position when we start outperforming (on decent volume) crude and other E&Ps on days when energy is weak (we saw a bit of that last week i thought)


anyone else fell like this was going on today?


Bullboard Posts