Baytex Energy Corp T.BTE

We will gap up

[Oilforever]

estimate 7.15 at open

[BayStreetWolfTO]

There are quite a few O&G investors who move name to name...they typically exit after the release. Things settle after earnings season. Same thing happened with WCP people sold just after open when they didn't see the pop they were looking for...later in the day it was back up Depends how many flippers here.

[1234bmth]

WCP didn't go back green yesterday because of its earning report, it went up due to more than 3% jump in oil price and if the report is good why the flippers should sell at the open? As for BTE I was expecting that management stays with what they promised, but they repeated the theory of making more money and spend more. At debt still + 1.2B$ their priority should be debt reduction not

[BayStreetWolfTO]

They said they would drill Clearwater if it accellerated debt and FCF....which it has Debt was supposed to be $1.2B end of Q2....hit that number in April....ahead of target....so FCF was above in Q1 and we will hit debt 2 months earlier. I think you might have been confused with debt being $1.2B in Q1 not Q2?

[1234bmth]

I agree they should do drilling, but not puting $80M more in drilling in one quarter, they could have spent $25M to $30M in drilling not $80M, however if oil holds above $90 I won't sell a single share, eventually it will get its value.

[1234bmth]

Even now the SP is very undervalued, if holds above $90 it should go $10 + soon. Short term flactuation is part of market reaction.