Well, not exactly. Same old BTE, flat on good news and doesn't keep up with the oil price. I think today's reaction is entirely because of the lacklustre hedges and market contempt for this dog that punished investors the last 6 years. Very real chance we hit $1.25 or lower here as oil naturally retreats. A major wall exists and oil may need to hit $70 to break through that wall.
Also, investors are anticipating a pullback here so that's why the rally has stalled.
Here are my predictions for 2021 based on the oil price. We are only $15 away from $50 oil and it could happen. I think I am being very realistic based on recent price history and trading.
$50 oil 95 cents
$55 oil $1.15
$60 oil $1.25
$65 oil $1.50
$70 oil $1.70
$75 oil $1.85
$80 oil $2
$85 oil $2.25
$90 oil $2.50
$95 oil $2.75
$100 oil $3
As you can see, to the moon baby! But still see $50 oil before $80 oil so $1 before $2. When this hits $50 oil or $1 before $2 I expect everyone to exit the Board accordingly. We just had a phenomenal unprecedented run form negative $40 to $65, the natural cycle means things will level off here and that's the main reason for the stall.
Very disappointing to see Cardinal Energy and Nuvista surge from 50 cents to over $2 while BTE is stuck.
I just don't see BTE catching up to its superior peers. Enough of this argument that it will no longer lag because it has suffered the biggest lag of them all. Drastically inferior returns considering the stock was $1.20 plus in 2020.
I don't think anyone trusts it.