RE:FROM OBE board.. truth hurtsI agree 100%, this was the biggest blunder BNE made ever. But the ratio difference from June 8th's ATH of 13% is now at 21% from OBE. Which makes BNE very attractive considering the low float of shares since their share consolidaton of 10 to 1. I for one will keep investing BNE & OBE since they already both took their share consolidations. Basically both these companies screwed long term investors, and now are operating under restructuring terms.
Bonterra should had
changed their name since in reality they are not the same company as they were years ago when they were t
rading at $46 per share. At least Penn West changed their name to Obsidian Energy as a sign they are a new company. Anyways, two horrible companies that should had combined forces as what the banks wanted them to do. Instead they failed at creating 1 stronger company. And I agree, get rid of the debt prior to any talks on dividends or buybacks, buyback what? a lousy 39 mil shares floating around. What for. - Pay debt first.
as for now for BNE, My only concern is that BNE's current management is able to live this down as per below's Obsidian Offer that expired.
Purchase all of Bonterra’s issued and outstanding shares for consideration of two common shares of Obsidian Energy Ltd. for each Bonterra share. Despite having destroyed approximately $1 billion in shareholder value over the last four years in no small part due to the mismanagement of Bonterra’s balance sheet, which has resulted in the elimination of the monthly dividend payment to Bonterra’s shareholders, Bonterra’s Board has failed to develop an alternative strategy to deliver improvements to their balance sheet and drive equity share price appreciation. Their only plan is to add more debt to an already over-leveraged balance sheet, in their attempt to preserve the status quo, all with obvious disregard to your best interests and the best interests of Bonterra. Spanito
hawkowl1 wrote: RE:RE:Blair on board now!
How can anybody hate SL. The dude looks like a cuddly teddy bear hahaha. All jokes aside, obe is up $3+ on bne as we speak. Bne shareholders lost out big time from Fink's pride and stupidity. They could have gotten 2 shares of obe for one of theirs. Colossal mistake on bne's part.