RE:Baytex & it's future....?
#1 Where did you get that they have 1.5 billion in debt? Not according to their last q anyways. And this 3rd quarter comes to an end this week so expect another massive pay down on the actual existing debt of 1.162 billion to have already taken place.
#2 Where did you get that we have already reached the peak of this bull cycle? Bull cycles last more than 1 year traditionally with about 5-7 years being the avg.. You calim that you have had 30 years investing in O&G. Ok show me exactly how you concluded that we have peaked and will now be in steady decline. Shouldn't be that hard with your experience in this sector.
#3 Why did you conclude that Bte needs to divest itself of assets? Last time I checked, they are developping Clearwater at a pretty good pace NOT reducing production. And what assets do you think they should get rid of? And to whom? If you conclude that they are at the peak value at the moment wouldn't BIG OIL also make the same deuductions?
#4 With all the macro bearish news concerning oil, most analysts are STILL saying that we have a tight supply situation. Combine that with funds flowing in from big whales (Buffet bought more OXY last week) and several possible bullish macro events approaching, in my opinion you are suggesting we sell at the lows.
In sum, I don't have 30years experienc in the O&G sector, but I call BS on your post. Was your 30 years in this sector spent working for an O&G in Fort mcMurray making food in theircafeteria?
Mas