Bonterra Energy Corp T.BNE

Alternate Symbol(s): BNEFF

Energy Oil & Gas E&P

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

Bonterra Energy Corp

Bullboard Posts

Comment by CashGreenGoldon Apr 16, 2019 2:27pm

49 Views

Post# 29634601

RE:trading pattern

I checked back the last 2 months and there looks to be some reflection of that in the chart.
If the shorts can get out the next 500-700k shares under 10 i would say they've made out pretty well on balance here.

Volume is tightening up and they know it. Hence the increased wash we saw last 2 weeks. The 1mm or so shares shorted from 2mm o/s to 3mm before the dividend cut made out well. Volume was there for them to cover into, and many did in the low 7's 6's, some in the 5's.

In all fairness, they did quite well here. And i wouldn't doubt that a lot of the short cdn position was related to the same parties trading the collapsing cdn oil spreads last fall before the curtailments.

Volume is tightening though.
Here's the last 15 days, vs the first 20 days of 2019, and the first 15 days after the dividend cut:

volume
March 27 – April 16
2019-04-16	110,000
2019-04-15	153,000
2019-04-12	181,700
2019-04-11	212,600
2019-04-10	297,100
2019-04-09	233,700
2019-04-08	293,700
2019-04-05	168,300
2019-04-04	119,200
2019-04-03	188,800
2019-04-02	120,800
2019-04-01	111,000
2019-03-29	108,900
2019-03-28	64,000
2019-03-27	116,100
	165,260

January 2 – January 22
2019-01-22	429000
2019-01-21	147900
2019-01-18	437900
2019-01-17	304000
2019-01-16	302600
2019-01-15	296600
2019-01-14	316700
2019-01-11	348600
2019-01-10	540500
2019-01-09	489500
2019-01-08	193100
2019-01-07	257700
2019-01-04	185700
2019-01-03	206700
2019-01-02	223,400
	311,993

November 29 – December 19
2018-12-19	515900
2018-12-18	529600
2018-12-17	423700
2018-12-14	396500
2018-12-13	344900
2018-12-12	325800
2018-12-11	449100
2018-12-10	471300
2018-12-07	383200
2018-12-06	442200
2018-12-05	181600
2018-12-04	417300
2018-12-03	796600
2018-11-30	886200
2018-11-29	1,272,900
	522,453