RE:RE:RE:RE:NCIB Reverse split in general is not a good sign and not welcome by rational investors unless the company's plan is in improvement mode. In case of BBD, the SP initially dropped after split, but it was significant improvement on FCF, profitability and positive guidance quarter over quarter that built confidence for investors and SP climbed. In case of BTE it is different, the debt over $1B with oil in the low $70 is considered high and risky, because oil may drop to $60 range and the break even for BTE is around $55 WTI, so the SP will be depressed in lower oil price until the debt is below $700M, and also at oil below $70 the buyback power will be reduced significantly and dividend will be out of the table. We see with oil going in the high $70 the SP is improving, in my opinion BTE needs sustained oil price of $80+ for at least 3 quarter to 1 year that could bring down debt and increase direct return to shareholders, then BTE would be holding firm in the double digit SP.
all my opinion.
CoachAmI wrote: Agreed...BBD recently did a split that brought it from sub $2/sh to $21/sh. (Very large split) Since then, the share price rose to over $50/sh.