Baytex Energy Corp T.BTE

Requirements relating to Normal Course Issuer Bids

[red2000]

Totally agreed to buyback shares ! 

But, Baytex have to be very strategic, but can't wait to long to release it's intention of buyback shares !

I call it many many months ago Buyback shares, Buy back shares, just call the intention !!

At 75¢ at 1$ at 1,50$ now at 2$ it's still what they have to do already this year !

If Baytex release it's intention properly by news release, I am sure the stock will gain a 5 to 10% share price.

When Baytex confirm the full payment of it's 1st long term debt of 400M$, now at 296M$, the stock price will gain another 10% !

For me they have to release their intetion before we hit higher price per share in Q4, with the update reserveof Clearwater project !

They can't win in all scenario ! 50 M shares worth 100M$ of FCF right now ! And probablt 150M$ before end of year !

It's easy to do !
https://www.tsx.com/resource/en/447#:~:text=10.1%20Every%20Normal%20Course%20Issuer,the%20facilities%20of%20the%20Exchange.&text=10.2%20The%20Issuer%20must%20appoint,its%20broker%20to%20make%20purchases.

POLICY 5.6 NORMAL COURSE ISSUER BIDS
Procedure for Making a Normal Course Issuer Bid
5.1 Intention to Acquire Securities
Any Issuer wishing to conduct a Normal Course Issuer Bid must submit a Notice of Intention to Make a Normal Course Issuer Bid (Form 5G) (the “Notice”) to the Exchange in accordance with the requirements of section 6 of this Policy. The Notice must specify the number of shares that the Issuer’s board of directors has determined may be acquired rather than simply reciting the maximum number of shares that may be purchased under this Policy. If the Issuer does not have a present intention to purchase securities, the Notice should not be filed. The Exchange will not accept a Notice if the Issuer would not meet the Exchange’s Continued Listing Requirements after making all the purchases contemplated by the Notice.

5.2 Duration A Normal Course Issuer Bid must not extend for a period of more than one year from the date on which purchases may commence.

THE MOST IMPORTANT THING TO DO QUICKLY

5.3 News Release
The Issuer can issue a news release indicating its intention to make a Normal Course Issuer Bid, subject to regulatory approval, before the Exchange accepts the executed Notice. The news release should summarize the material aspects of the Notice, including the name of the Member conducting the normal course issuer bid on behalf of the Issuer, number of shares sought, the percentage of the outstanding shares or Public Float sought, the reason for the bid and previous purchases. If a news release has not already been issued, a draft news release should be provided to the Exchange and the Issuer must issue a news release as soon as the Notice is accepted by the Exchange.

5.4 Disclosure to Shareholders The Issuer must include a summary of the material information contained in the Notice in the next annual report, information circular, quarterly report or other document mailed to its shareholders. The disclosure must indicate that shareholders can obtain a copy of the Notice, without charge, by contacting the Issuer.

5.5 Commencement of Purchases An Issuer can make purchases under a Normal Course Issuer Bid beginning three clear trading days after the date the Exchange receives all documents, including the originally executed Notice in final form.

5.6 Publication by the Exchange On acceptance of the Notice, the Exchange will publish an Exchange Bulletin announcing the Normal Course Issuer Bid.

Only my O !

[topdown99]

Let's be honest about this red , while you and I might have been buying at $0.75 and $1.00 , BTE didn't have the available funds .   Presently BTE is concentrating on debt reduction to a specific level , as that goal is achieved I'm sure the NCIB application will be announced and sent . Huge progress has been made already even though the media continue to ignore the story .

[red2000]

You are right! No money no candies ! Ed and is team don't want to take high risk again ! Patience is still the key ! We have to admit We made a nice run so far ! From low 50's to 2$ ! Nice week-end to all !

[BayStreetWolfTO]

Red, have a great weekend! Agreed no need for risks at this point. Patience is the key. Td is 100% right...while we were buying the lows there is no way the company was in a position to. TD is also bang on concentrate on debt to alevel Ed and team feels is appropriate... I believe his last call was between 1.0 and 1.2b. After that I'm sure as Td says an NCIB will soon follow...it's just

[topdown99]

It has been a nice run , my best buy was $0.39 and I see that being a 10 bagger in the next 12 months . And you are right too about patience red , look at the advancement in just the last 6 months ....... think of the improvements the next 6 months will provide .  Getting the debt under control was key , how many millions will be saved on financing costs as the balance drops . While the

[red2000]

Geez hurry up Baytex management !!! Start the buyback shares program with Q3 results ! What is interesting for Baytex, the s/p always do a little pulll back of 3-5 %, best time to buy back !! For newbies, read my post dated august 6 !!! https://stockhouse.com/companies/bullboard?symbol=t.bte&replyto=33664545&threadid=33664545&source=bullboard GL LONGS !

[BayStreetWolfTO]

Hey Red, I thought about the share buyback announcement prior to Dec 31st and here are my thoughts. 1. IF they announce it now....the market might question their focus on debt reduction 2. They would have to publish the estimated strong FCF for Q3/Q4 to satisfy the market (not sure they would want to do this as this gives away the surprise) 3. Why would they not want to do this? I think when