Good to see BTE get punished today While I feel horrible for BTE investors and just got out myself on Friday, I believe it's good to see BTE get severely punished today and the entire Canadian energy sector to a certain extent. BTE has a new CEO that couldn't resist going into the toy store and buying a shiny new toy. The market reaction (and subsequent possible lawsuit) certainly sends a message to all CEOs in the industry to maintain low debt and increased shareholder returns without dilution.
Hopefully CJ management is paying attention, although I would argue that in the 16 months I've invested here they've always done what they said they would and have built great credibility. I suspect a jump in WTI for tomorrow morning will see a significant jump in share price for the industry, except for Baytex as it's going to take a good 9-12 months for them to recover in my opinion.