I bought heads for 0.4c and oppies for 0,2c back in 2020. I have traded around a core position since. So yeh I have been here for long enough to be allowed to comment I gather. And yes I definitely was here when we found oil and share price tanked. I was commenting at the time that I think the raise was shizen, I think CPS Capital is shizen (especially since Jason Peterson selling his large holdings was a large reason for said tanking and not what you want to see from your broker sharing your companies long term vision in delivering value). Also a reason why I would want to see a new broker but this creates massive issues as CPS could potentially advise its clients to bail then, which of course causes more problems for existing shareholders. I 'hope' that this is the only reason DP continues to use them. I was not holding too many shares in 2023 until earlier in the year when I started buying again around 1.1c as I saw value again at that price.
Some more 'smug' commentary for you
-approvals for drilling and booking in a drill are more complex than the simplistic we have cash and are drilling slowly scenario you present. Compare our drilling to other oil and gas microcaps. I can't complain.
- imv CPS Capital sux and given they dogged us in the big price rise in 2021 it would be great to not use them moving forward. I believe DP, as a financial guy, not an oil guy, appreciates the move Jason Peterson made despite it being a poor outcome for shareholders and so happily uses CPS still. Who knows. I think it sux but I also see Jason Peterson is holding a lot again so..........
- 'the Plan' probably isn't desirable in this market. Oil has been weak and we likely heading into recession. No one wants to be the guy that pays up for an asset likely to be worth less in a few months time. I have no idea if this is reason for silence on this. I do think that management was probably looking at shopping our assets around now that we have drilled out the DSUs as planned but it's hardly the market for that. The timing is unfortunate but hardly managements fault.
- I've met DP. Wasn't inspired by the guy but to me BRK looks like an undervalued leveraged play on oil and I like the long term underinvestment on oil and (what should be) the associated price metrics over time. I do think both DP and Jason Peterson have enough shares and enough drive to fill their own pockets that we should do ok. Imv I also think (especially for a finance guy) DP has done an admirable job to-date in developing and delivering on a successful well program.
- the loose register will hamper any SP recovery. The buyback will help to address this but how much remains to be seen.
You seem awfully smug holding a stock that worth half as much now (Being profitable, cashed up, operationally successful) than it was being a little nobody in the hands of untrusted and unproven management, knowingly about to dilute the register to hell.
Which is exactly my point mate - sentiment trumps 'value' every time. BRK is way more valuable now than when it hit 4.1c in 2021 but large selling from our supportive and visionary friends at CPS Capital (and a very loose and bloated register) trashed the shareprice and trashings like this take a long time to recover from. I think this year or early next will see the recovery but I could also be out by 18 months or even more if recession happens and is worse than I expect.
BRK Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
(20min delay)