I haven't commented about PetroBakken (PBN) or Petrobank (PBG) for a while so now might be a good time. Why? The stock got crushed today down over 12%. I would be willing to bet the dividend is slashed over the next couple days. PBN is currently yielding 11.7%.
Insiders are giving their friends an opportunity to sell before the news hits the steets. Since the insiders don't own any shares, they don't need to sell.
You can read about my thoughts on PBG and PBN: Here, Here, and Here.
Not to crow, but I did get a lot terrible reviews over at gurufocus on my article (the first link). I have stopped writing articles over there because it speaks to the intellectual quality of the readership. The second post talks about how they don't have the earnings to pay for their dividend. The last link above was a scathing review of their 2010 results.
I may have to write another article for gurufocus on the anniversary of my article. At this point and given my pessimism for oil prices going forward I think this one may just go to zero, given their debt levels.
Disclosure - I am not short and have never been short PBG or PBN (but I sure wish I did).