Baytex Energy Corp T.BTE

Great to see...

[riski]

lots of vultures here getting in on the deal of a lifetime. 

Ironically, it's the much desired NYSE listing that is tanking the stock and now holding it at absurdly low levels.

Juniper (the majority holder of ROCC) were given 130 million shares at closing of the deal and it looks like they want to get out of oil with liquidation of almost their entire position in just two days. Huge volume on NYSE again today and arbitrage going on to lift the volume on the Canadian side. 

It won't stay this low once the selling pressure subsides, even if oil moves down from here. So grab them while you can. 

By my calculation, Juniper (or more likely the bank they hired to do it for them) has likely liquidated all of their shares yesterday and today. 

Here is a form 4 filed on June 20 indicating a complete liquidation meaning they probably sold them to a bank to sell on their behalf which the bank has done rather quickly. 

https://www.streetinsider.com/SEC+Filings/Form+4+Ranger+Oil+Corp+For%3A+Jun+20+Filed+by%3A+Juniper+Capital+III+GP%2C+L.P./21831633.html

[riski]

And I should add it's great to see the level of interest in BTE. We might approach 150 million shares traded in two days. That's a lot of buying interest.  Hold on tight. This is going to be a wild ride.

[uwebb429]

Juniper cannot start selling their new BTE shares for three months. This is part of the agreement they signed. The document you found is just paper work to get the Ranger shares off of Juniper's books since Ranger shares can no longer be traded. They have no value any more. The transaction shows $0.01 per share which is meaningless.  Lock-Up Period At closing, Baytex will enter into

[riski]

Yes, they sold them before closing to avoid the lockup. The shares being tendered are Juniper's, sold to an investment bank and now being sold into the market by this intermediary. Transaction date is June 20...

[dandu1924]

Hi! Riski, Do you have the broker name or his number . Thank you

[deepblue]

Poor Juniper. Going to be a long 3 month hold seeing their investment dwindle down each day.

[Duster340]

juniper can not sell, but eric can and is lol

[JohnnyDoe]

Juniper can't sell their shares. They are locked in. Can sell 1/3, 1/3, 1/3 on 30 60 90 days.  CEO talked about that this week on BNN. He also said they are long-term oil investors with deep pockets 

[riski]

Hmmm, I could certainly be wrong, and digging further, it's possible that I am. It wouldn't be the first time I've seen a large shareholder from a company getting taken over sidestep the hold period by funnelling shares into a subsidiary.  They often feel stuck in the investment as the big shareholder knowing that the value will tank if they even try to sell a few shares. A

[FreddieSanford]

Riski ... could it be related to the deletion of ROCC from the S&P SmallCap 600 effective at the open on the 23rd?