A - lower oil prices.
B - We need more pipelines and rail cars to get oil to the refineries.
C - panick selling
cheap stock = A + B * (C "stock's sold")
Be a Contrarian investor every body is selling this stock because they do not understand what, is going on. Book value is around 18.00 and change, they are doing ok. paying down the Debts.
PetroBakken is in compliance with the covenants on its convertible debentures. The convertible debenture
agreement stipulates that the ratio of secured debt to total assets is not to exceed 35%.
The Company is in compliance with all covenants on its Notes. The Notes contain covenants that could limit the
Company’s ability to issue additional debt, pay dividends, and repurchase stock among other restrictions.
The Company had positive cash flow from operations for the three and nine months ended September 30, 2012
and a credit facility with $1.0 billion of available capacity as at September 30, 2012 (December 31, 2011 - $0.2
Im waiting for $7.00 to bye in.