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Tuesday, May 1, 2012

Petrobank Taking Advantage of Market Inefficiency Continues

Sells a little bit of their Petrobakken stake at $14.26:


Toronto Stock Exchange

Company Name : PetroBakken Energy Ltd.Last Updated: April 30, 2012
DateSymbolInsider
Buys
Volume
Insider
Sells
Volume
Insider
Buys
Value $
Insider
Sells
Value $
Insider
Buys
Transaction
Insider
Sells
Transaction
Currency
04/30/2012PBN018,9000.00269,439.00088CAD


And uses the proceeds to buy back Petrobank shares at $14.05 each of which represent 1.05 shares of Petrobakken, $1.00 in cash and the THAI technology/oil assets.  Excluding THAI and the oil assets those Petrobank shares would be worth ($14.26 x 1.05) = $14.97 + $1.00 = $15.97

So Petrobank is selling at $14.26, and buying somethat at $14.05 that is actually worth (at Petrobakken's current market price) $15.97 (assuming THAI and the oil assets are worth nothing).


Toronto Stock Exchange

Company Name : Petrobank Energy And Resources Ltd.Last Updated: April 30, 2012
DateSymbolInsider
Buys
Volume
Insider
Sells
Volume
Insider
Buys
Value $
Insider
Sells
Value $
Insider
Buys
Transaction
Insider
Sells
Transaction
Currency
04/30/2012PBG23,9000336,020.000.001000CAD

Gentlemen, please continue as long as Mr. Market allows.  Then about a year from now I would appreciate it if you could spin those Petrobakken shares out to me.

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