RE: Connacher Oil & Gas "ALGAR"I wouldn't be surprised ifwe saw $8 after Q2 earnings are released (57/barrel at the well head X11,000 combined+gas+refinery+plus reserve increases from cores) and Algar approval is complete, that will put us closer to par with the sector as to P/E ratio/ then a run up of coarse because we shine.
I think the sector is still undervalued, just wait till the EIA comes out with world supply estimates, and a decision from the SEC as to pricing reserves on the books year round comes into play. All these will get the sector moving again, as to which direction????lol
With-in the sector CLL shines, just look at all the problems being reported from CNRL, Encana is slowing drilling to let the production side catch up(infrastructure), Husky botched a project and costs over run for others, CLL deserves a higher multiple, looks like the business plan is a sucess.
If these factors out side CLL's control come in to play we could even run up higher then 8$, foriegn investors just need to learn about SAGD and get that open pit crap out of there heads.
But who knows where the short term economy is going, so much contradictive information, the BRIC will have a great influence on demand, i'm hearing inflation in Kuwait,Mid east, and Asia is around 8+%, why is it so low here, must not be priced in yet, its coming. Still a few things to keep an eye out for. Long term you can't go wrong. If the economy turns around this fall we might be in for a wild ride. all those Fed cuts should be factored in by then, companies might have $$ to grow........or spend on fuel, either way oil benefits, jobs are still increasing, population is growing, what do you think will happen???? What else am i missing, i'm sure theres lots.
Analysts keep saying the bottom is near, if you say that long enough it'll come true..lol