RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Kavern 23Why would Bonterra engage in buybacks? It already has the tightest float in the patch. Where most O&G companies were blowing their brains out on dillution (and debt), Bonterra opted instead for just debt.
Bonterra has historical monthly yields that range from 3-8% dating back to the 90s. Bonterra was expressly known as a dividend stock for years and the yields will come back once debt is taken care of. All you have to do is zoom out on the Bonterra chart in order to see into the future.
At $100 oil Bonterra has $7.5 billion (1P) and $10 billion (2P) worth of reserves in the ground with only 35 million shares. Obsidian couldn't take Bonterra out at $2 and they aren't going to take Bonterra out at $20.
All that being said, Bonterra has a lot of debt, including debt with the government that prevents them from paying a dividend until its paid back.
I think the market is mispricing both Bonterra and especially Obsidian. Both have bright futures ahead.