RE:RE:RE:RE:bought deal secondary offering of Headwater common shares Great points Benny. This does bode well for a future consolidation deal.
The share price weakness is to be expected as a below market offering always attracts a few arbitrageurs who have no interest in actually holding oil stocks. They just want to cash in on the difference in the market and offering price. So they all rush out to short the number of shares they were allocated so they are net zero exposure. Then they reverse the trade after closing of the offering in October.
It does provide a nice opportunity to pick up shares at a good price if looking to add. It also is a good opportunity to loan your shares if your broker allows you to participates in such activity since the daily interest rate you will get on your loaned shares will be very good over the next few weeks.
Bennys65 wrote: I agree with Riski that this a strong demand sign for the oil market and Hwx in particular.We are small not yet 10000 bpd and the market wants our stock and lots of it. at a good price.So much for my idea that cve was looking to expand in the clearwater.Neil must be licking his chops knowing that it will be easy to raise money for a Delta deal.Big brother cve just became little brother.Wonder if they hold their board seats