RE:RE:At $80 OilAlso they hedged at $53 for next year so they won't get $80. Also they have diluted their shares massively with 570 million shares outstanding. Last time oil was $80 they had half the share count. Stock prices are based on perceived future value and BTE is trading as if oil is expecting a big drop. Let's face it, the cyclical and volatile nature of oil means you are going to have to hang on by your finger nails. It's not guaranteed and $2.25 or so is probably more realistic with a calendar year of $80 oil. Yes, BTE can appreciate but let's not get carried away with price predictions. No chance BTE ever hits $34 at $80 a barrel.
With Covid, strife, suffering and the massive lush to electric I don't forsss an oil super cycle and the days of $100 oil are over. OPEC plus is pumping more oil and they are anticipating increased demand to balance the market. That's a recipe for reduced oil prices and a slump moving forward.
We are close to the Mendoza line and anything under $55 means BTE will be sold violently to the downside.