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Bonterra Energy Corp. (BNE.TO)
Toronto - Toronto Real Time Price. Currency in CAD
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massive free cash flow 2022
at $70 $3 per share
100% gain in a year with oil at these levels.
Inadvertently, the whole climate change policy push, is pushing up oil prices.
Yahoo Finance Insights
BNE.TO reached a 52 Week high at 7.07
Yahoo Finance Insights
BNE.TO reached a 52 Week high at 6.80
Any regrets about OBE offer?
If the merger happens, then I might be interested in buying the new company, but without a combination, looks like we are looking at zero in both cases. Maybe OBE could increase the offer to 2.20 shares.
This is a 10% premium and would value equally. But it looks like Bonterra is slightly overpriced relative to OBE at current prices. Unfortunately, management will act in their best interest and not of the shareholders.
Yahoo Finance Insights
BNE.TO reached a 52 Week high at 7.22
Now your BNE can Crash because Your Fink will quite buying. A good day for OBE!
"While the Offer would have delivered synergies to shareholders of both companies, the changing environment, impact of higher commodity prices and expected strength of our 2021 strategy no longer makes the proposed exchange ratio attractive for Obsidian Energy and our shareholders. As a result of the expiration of the Offer prior to the satisfaction of its conditions, no Bonterra Shares will be acquired and all Bonterra Shares that were tendered to the Offer will be promptly returned to the depositing Bonterra shareholders."
Hey anyone still holding BNE Shares? Wondering why the dividend amount is only .01 Will let you know more if anyone replies to this post..
Bonterra's 315 million dollar debt is unsustainable as a stand alone company. The market price action won't determine that but the banking facility will. Fink doesn't even address this problem. He has no plan for reducing Bonterra's debt. He only talks about increasing production which will only lead to more debt. This doesn't show up while oil prices are high or rising but when the price of oil goes down the banks will pull the plug. If you listen to and follow Fink he will take your investment to zero. Counting on oil prices rising is not a business plan it is gambling and that is what Fink and his management is trying to do with their shareholders investments: gamble. Obsidian has a plan that is focused on reducing debt. That is a prudent business plan that unlike hoping the price of oil stays high can be controlled by management. Fink seems to think hope is a plan. No wonder only 52 percent of Bonterra's investors voted for him in the most recent board election.
BNE Shareholders I want to address the question of why this OBE stock is so undervalued and unloved for those seeing the amazing fundamentals in such a low priced stock.
In late 2017 the stock was trading well above $2 but they entered into very bad hedging position locking everything into $50 WTI. In late 2018 the differentials widened dramatically on Canadian crude such that OBE was nearly break even on a cash basis and the stock plummeted below $1. Fear of delisting emboldened short players and OBE announced a 7 for 1 reverse split to protect the listing.
This backfired very badly as now the shorters were emboldened even more as this is a very bad sentiment indicator and the pushed it down to around 20 cents which after the reverse split equated to $1.40. By this time the company was stabilizing but they announced a strategic review which again signalled a very big negative and again the shorters went after the price sending it under a $1 once again. The company was looking to recover the $1 mark but then COVID hit and combined with the delisting it hit 20 cents in early April 2020.
Nothing fundamentally has changed operationally since 2018 when the stock was 4 times higher. The company produces 25,000 bbls per day and most of the production is high margin Cardium production. What is different is all to the good: (They have reduced debt) (they have renegotiated their office lease saving $12 million/ year) (they have reduced well costs) (they have placated their lenders) )they have made Willesden Green their cornerstone with some of the best wells in the Cardium) So when I suggest a $10-12 share price which is $1.45 to $1.70 pre split, this is not a stretch target, this is the equivalent of CPG returning to $6.50 or ATH returning to 85 cents, WCP returning to $5 or CVE returning to $12 which is where all these players are in mid 2018.
With recovering oil prices and continued debt repayments, there should be no reason for this stock to be $10+ in the next year.
If you are a Bonterra Energy shareholder, would you rather own 1000 shares of Bonterra with an upside potential of $5/sh or 2000 shares of Obsidian Energy with an upside potential of $10/sh ?
Looks like Oberndorf tendered his shares or is in that process. It is only a matter of time partners.
Is there anybody out there?
Bullish On OBELF!
BNE 315 million dollars in debt. Debt increased 23 million this past year. There is no way BNE continues for long as a stand alone company. That is simply not sustainable. The banking facility will pull the plug the second the price of oil drops and we all know that what goes up will come down. That is why Oberndorf tendered his shares. The takeover announcement is coming soon. Likely on the 29th.
If oil prices recover and stay where they are now, I am not sure either company needs to consider a merger.
If this think were about to happen you would see parity in trading price. why buy BNE at a premium if Obsidian was about to be successful. Cheaper to buy Obsidian. The market is saying no.
Bonterra's stock price 8/20/19 $18.61. Today's quote as I write is $2.89. This company destroys shareholder value period.
Another massive four million draw in oil inventories reported by API these energy stocks are begin to lift off and i think my timing is perfect I’m on this one.
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