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TSX TAL C$0.80 - TSX GTE C$12.60 - pre split from PetroTal 2 +/- years ago Grand Tierra Energy was trading near the same value as PetroTal in the US $ 0.35 range - reverse split carried out once free of PetroTal and look where it is GTE - meanwhile ding dong PetroTal has a pathetic buy back trying to increase SP and a PSU award program keeping the status Quo.
If you have any shares you should sell and put it all on GTE. No money to be made here! :)
Well said ignarus but as with all ignari comprehension is lost on what was stated - Did not bail out on GTE as u did back in the split
Where is GTE's primary listing?
This is what investopedia says about reverse splits:
"Generally, a reverse stock split is not perceived positively by market participants. It indicates that the stock price has gone to the bottom and that the company management is attempting to inflate the prices artificially without any real business proposition. Additionally, the liquidity of the stock also may take a toll with the number of shares getting reduced in the open market."
https://www.investopedia.com/terms/r/reversesplit.asp
But GTE did their Big Banana reverse split on 5th May 2023.
Shareholders got one new share for 10 old so you expect the share price to leap to compensate.
https://www.lse.co.uk/ShareChart.html?sharechart=GTE&share=Gran-Tierra
So the day before the share price was 62.5p and on May 5th share price did indeed rise to 525p but sank over the next two months (July 4th share price 415p). It was only really almost a year later where share price started to rise into new territory so dont see how it did benefit their shareholders???
GTE primary listing was Toronto Canada along with sister company PTAL - come the break away and reverse split and relisting New York exchange to attract the Instituition investment - Ticker code NYSE GTE - GTE has romped off the charts - Current NYSE US$9.23 - and the ignarus remain glued to the dug out canoe on "buy backs" and at the time of the split were all wailing good riddance to GTE - seems like the "wise" ignarus got it wrong
there's your answer bob - us listing. it's not about the reverse split, it's about the fact we're listed on the tsx and aim (dog**** place to be), and gte is on the nyse. they value everything more highly than us (& canada).
Did not benefit from reverse split ??? Glued to the dug out canoe u really are - 1 year later and the NYSE GTE SP is at 736p - what is that dear chap over 1 year on your 415p July SP ?????
321p/415p = 77% annual share price rise and PTAL over a year ???? your argument is truly Ignarus on a reverse split
GGG I have constantly bemoaned the fact of Listing and Reverse split for years at one time PTAL was considering a reverse split and put it forward on a AGM vote - no news after the vote in favour thou - been dead quiet on that since the vote - but bigger fish a looming PERU re politics - I think we shall soon see the political situation Peru start to erode the SP PTAL - on the other hand GTE operating in Columbia SP survives Farc knocking out their pipelines - like u say what a difference a Listing makes and a SP out of the penny stocks murky waters by way of a reverse split - pity the dug out Canoe bunch can't see it.
Yeah I just don;t see a reverse split doing anything Bob. It's more the fact that being listed in the UK is poor for valuation across any industry. Canada better, but still doesn't stop the deadweight that is AIM. The reason why GTE has exploded is simply because of the NYSE and all the money in the US market.
They should have doubled the share buy-backs. I think they should aim to take a minimum of 5% of shares (net) out of the market until the valuation starts to correct. They can easily do this. Drilling more wells when we're transport constrained doesn't help at all. They're throwing off a silly amount of cash every quarter so maintain the divi, double the BBs, and keep production stable at 18-20kbopd for the next 12 months whilst transport logistics are solved.
You have hit the nail square on the head GGG about transport - 18 000 BOPD is max the Barging can handle to Manus re company reporting with current barge fleet - And it is glaringly obvious that they need more production to be transported internally for sale via a pipe line - 73% of production is to Brazil export - PTAL need to settle their differences with ONP
Bob- there's a 2 dollar spread on the NYSE listing because its currently closed so your calculation doesn't work.
S$8.12 bid, $10.31 ask, so invalid to compare that mid price to historic bid prices and say share has gone up.
I'm comparing like with like:
https://www.lse.co.uk/ShareChart.html?sharechart=GTE&share=Gran-Tierra
11 months after split on April 5th 2024 share price was 500p- lower than share split day (525p).
I know recent share price performance has been better in last 6 weeks, but so long after the split, I'd say its more likely that improved performance of business is the cause.
Actually it opened at $9.29 in New York so stand corrected on current price. One trade in London Bid in 640p, Ask 674p but trade price 740p. I think problem is it's just so illiquid. Recent share price has been good though.
Anyway, apologies for all the GTE.