Canamax Energy Ltd DTEYF

RE:RE:RE:collapse

[oilbarron]

Yeah me too, my ave price is $1.6 started at 1.77 and have averaged down since. I don't feel this is the bottom yet. The bear market is here for oil.

There is slowing growth in Asia - and the world economy outside the US is on the verge of recession. Therefore, the Gulf OPEC producers are in a price war to maintain market share in the face of booming oil production in the US. It's getting a bit nasty out there.

https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/saudis-hint-at-plunging-oil-prices/article21079270/#dashboard/follows/

https://www.ft.com/intl/cms/s/0/a50b0a4c-4ec4-11e4-b205-00144feab7de.html#axzz3G4DceOGU

BUT, that doesn't mean we should panic and sell. We should hold firm, because these things change on a dime. Long term oil prices will do what they do, but the management team is competent and they are building up long life producing assets.

I just hope CAC has hedged their production a bit to maintain cash flows/boe. I have e-mailed them about this...hopefully they get back to me.

So in summary holding firm on CAC because of solid team and good assets for long term success. I won't react to this slump in oil prices, and will do my next buy if the stock price slumps under 1$. This is what separated men from boys and women from girls!

Good luck!

OB