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Posted: Wednesday Dec 7 5:32:47PM 2005
Prospector and Doren,
I also held my shares through the deal and was able to trade them as of yesterday. I trade with Interactive Brokers and the 1000 shares of Bulldog that I had bought cost me 7.34 commission at a stock price of 3.67 . If I buy a thousand dollars worth of stock it costs me 2 dollars. A 1000 of Connacher cost me as low as 4.74 when trading at 2.37 or in other words 0.2% of the trade value. A thousand shares of the Royal Bank for example would cost you 2 cents a share for the first 500 and 1 cent a share for the remaining 500 so the trade on 1000 shares or about $90,000 worth of Royal would cost 15 dollars. I find it great for penny stocks where buying 2000 dollars worth costs 4 bucks.
I use level 2 for full market depth which costs 11.22 a month for the venture exchange and 19.49 a month for the toronto. There are no minimum trade requirements, account balance and profit/loss is all real time. The trading platform is a joy to use and does not boot you off for inactivity. You need at least 3000 to open an account and that takes a few days. I was with Action Direct through the Royal and now I am selling everything at the Royal and sending it to I.B. by wire transfer which is at least a week faster than any other way and eliminates the hold period. I estimate I will save over 5000 a year on commissions by switching.
Hope this helps.
Posted: Wednesday Dec 7 1:59:26PM 2005
You may also want to check out E-trade. They have a promotion right now for $19.95 commissions per trade or if you are an active trader you can get commissions as low as $9.95 per trade.
Posted: Wednesday Dec 7 12:13:02PM 2005
This is the first time I have held on to publicly traded shares through an aquisition. I was a little surprised to learn that I would not see the new companies in my portfolio until 4 days after Bulldog Energy ceased trading. And they indicated that I could not sell my new holdings until they did show up. Is this typical? And if it is, I wonder if there are a bunch of shareholders wanting, but not able to sell their shares, thus artificially limiting the supply? I deal with TD.
Posted: Monday Dec 5 9:50:37AM 2005
Impressive first few hours of trading for the new company.
However, as I understand it, they start up with 200 bpd of production, and plan to spud another well or two soon. Any expectations of what this will translate to in terms of cash flow (i.e. what are their netbacks, production costs, etc.)?
Seems like the price may be getting ahead of things here, compared to the metrics for other small producers (XPD, RGY, what the old BDE.A was priced at, and so on). BD has 21 million shares out so the market cap is already up there for a small producer - unless production is expected to grow rapidly.