second guessesIMHO, BTE made an acquisition based on certain gas price forcasts which, in the short term at least, have turned out to be flawed. They were motivated, in part, by those who told them they were "too heavy" and needed more gas in their production mix. Yes, they bought at the wrong time in hindsight, but hindsight is 20/20 and we're all experts after the fact.
On a related note, BTE is again going to re-write all the options for the employees - heard this from an employee recently - and give them flex days to improve morale and keep the staff they have, some of whom are top-notch people. BTE got big-time grief for re-writing the options last time, but it kept their staff in place and allowed the company to move it's stock from about $3.60 to north of $14.00 in the last cycle.
I think it is inevitable that BTE will not survive long, if they can find a buyer for their heavy assets (J.P. Bryan where are you? LOL) which in a way is unfortunate because they have the best Stampede breakfast/drunkfest in the city. you folks in T.O. probably don't understand just how important that is to us Calgarians!
later,
Smarmy