RE:RE:RE:Baytex down because?Realdude wrote: I bought for $2.80 a share. However that is irrelevant and your missing the point...
What was your point? That it is dead money? Because of debt?
If juniper wants to sell, seems like there's plenty of institutional interest, often called smart mone. BTE will need institutional interest to cross the second juniper tranche, the third they can buy themselves. This was discussed on the Q3 call.
But you don't think it's going to move because of buybacks instead of debt repayment. Maybe. But let's take the bottom of the OPEC range. 80. That's about 76 wti. Cash flow at that number in 2024 will be outrageous. We're going to exit 2023 around 160, probably hit 165 for the year. In Canada, we've got tmx coming online next year which smart money thinks will really narrow the WCS spread.
Unless you believe that the price of oil is going into the 50s and staying there, this is a pretty good place to be.
You're up about 100% in 5 years. I think you'll be up another 100% in 2 years.
You seem to have high objectives and lack patience