Past words of Josh YoungIn Barrons.com last march : https://www.barrons.com/articles/oil-investor-bison-interests-stock-picks-51647982569?tesla=y
What’s the other Canadian stock?
The other Canadian one, which actually has substantial U.S. assets too, is Baytex Energy (BTEGF). Baytex got delisted from the New York Stock Exchange because their stock went below $1 In the U.S. during the downturn. They’re still listed on the Toronto Stock Exchange, but that killed a lot of the retail interest. And you killed off a bunch of the institutional interest as the company got close to a potential insolvency event in 2020. We owned a little bit before and then bought a lot when they were already paying down a bunch of their debt. Similar to Journey, it’s a big deleveraging story. And then they had a big discovery in the [Canadian] Clearwater oil play. [The economics there] from my calculation are as good or better than the very best wells in the core of the [U.S.] Delaware Basin, where companies have much higher valuation multiples and where there’s very limited remaining inventory.
More drilling results coming with Q3 to prove the real proven and probable reserves of Baytex in the Clearwater and Seal area !!!
Gl Longs !!!