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Thursday, May 3, 2012

May 2 Petrobank Share Buyback Update

And the taking advantage of Mr. Market's inefficiency continues.

Petrobank sells some Petrobakken @ $14.28


Toronto Stock Exchange

Company Name : PetroBakken Energy Ltd.Last Updated: May 2, 2012
DateSymbolInsider
Buys
Volume
Insider
Sells
Volume
Insider
Buys
Value $
Insider
Sells
Value $
Insider
Buys
Transaction
Insider
Sells
Transaction
Currency
05/02/2012PBN022,2000.00317,322.00081CAD

And uses the proceeds to buy back some Petrobank @ $13.91


Toronto Stock Exchange


Company Name : Petrobank Energy And Resources Ltd.Last Updated: May 2, 2012
DateSymbolInsider
Buys
Volume
Insider
Sells
Volume
Insider
Buys
Value $
Insider
Sells
Value $
Insider
Buys
Transaction
Insider
Sells
Transaction
Currency
05/02/2012PBG31,7000441,745.000.00930CAD

A nice deal for shareholders as each Petrobank share owns 1.05 shares of Petrobakken which would be worth 1.05 x $14.28 = $14.99 per Petrobank share, plus $1.00 of net cash on the balance sheet, plus THAI and related oil assets.

I like it.  Lets do it again today.

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