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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 269,000 gross acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.


TSX:BTE - Post by User

Comment by Snowballeron Nov 18, 2022 4:31pm
219 Views
Post# 35111655

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Lmao at traders who are caught outside again

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Lmao at traders who are caught outside again

?? BTE went from $9 to $5's then put in a lower high of $8 and we currently at $6's.. $4's could easily arrive. wouldn't be surprised to see it under $4 in 2023 if we get a hard landing which is what I think we'll get. I think it's important to recognize the possibility against the idea of a multi year bull market which we may have just had. Think about that. 


if oil shits the bed and we remain in a bearish economy for three years, not only will reserves be bought back for cheaper the price of oil could remain a lot cheaper than many think  

 


 


riski wrote: Yes, that is understandable as it's a glorious opportunity. We may be in one of those big downdrafts now with WTI hitting seasonal weakness and little in the way of catalysts. In the past few years, this kind of WTI drop to date would have sent BTE down 40%-50% from $8.00. We haven't seen that, so it will take a greater WTI drop to make that happen now that the company is in a much better financial/growth position and held predominantly by stronger, long-term thinking investors.

But it's possible. Have your powder ready just in case. 

Have a great weekend. 
 

HighOctane89 wrote: Don't take this the wrong way but I would love to see another one of those pullbacks to increase my position . In the meantime I easy street in the palm of my hand , no need to be greedy , lol . 

riski wrote: Thank you, and congratulations to you as well. The hardest part about this has been holding on while this bull rages, especially during the dramatic pullbacks. There have been several big downdrafts with the value of our energy holdings dropping up to 50% quickly. But I take comfort in the macro numbers and let the day to day/week-to week fluctuations have their way knowing that value gets recognized in the long run. 

HighOctane89 wrote: Awesome job riski , I first got involved that Aug/Sept , my best price was 39.5 cents . Bashers outnumbered the longs but look who's laughing now , well done .

riski wrote: Cost base is 0.56, but was as low as 0.47. I've been averaging up over the past two years. I had 250,000 shares at cost of just over $1.5 going into the pandemic crash. I had been buying on the way down and then was faced with a choice to watch and wait - down 80% at 30 cents or get my cost base down to give me a chance to get back in the green - knowing that a recovery would definitely come from 30 cents, but I wasn't sure how strong it would be. Everyone was throwing the baby away with the bathwater, and I wasn't immune to the temptation, to be honest.

So I bought 900,000 shares in 300,000 aliquots - all at 30 cents over the course of about a week. I didn't gave the courage to do it all at once, but was able to talk myself into it after sleeping on the first and second ones and recognizing that no debt was due until 2024 giving a long runway to recovery.  My biggest regret is that I didn't buy more. I thought about it, but it already felt like there was a chance I was just putting my money into a shredder.

There were only two or three posters on here at that time, and they were all trolls declaring bankruptcy which was at least 4 years away. A little premature, lol.

The recovery was much more quick than I thought and it went green in the summer of 2020. I was very tempted to sell and be thankful to get my money back, but the rally looked strong. I was wrong as it went back to red for a prolonged time. It went green again in the fall, but by then there was a powerful recovery taking place in the economy and oil and instead of wanting to sell, I started to add again, averaging up. 

Now I sit on a very large position with the macro never looking more promsing. How do I sell now when all the ingredients are in place for a powerful multi-year rally on a company that no longer has a huge debt and has enormous growth prospects when I didn't sell at much riskier in the money times - times when there was lots of debt, the economic recovery was still sketchy, and the SPR was full?

I have some stops in place at less than half of the current price to lock in great proftis if it comes to that, but I doubt we go to those levels ever. This company has transformed itself and now sits in the pole position of one of the greatest oil bull rallies in history. 

I am more than optimistic. 

HighOctane89 wrote: 1.2M shares ? What is your cost base riski ?

 

 

 

 




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