Interesting....Target $10.00
Well, like I said before....The value was there and the fact the shorts were allowed to play, just makes it all the more fun to watch climb.
Why, is the question...Did the companies with deep pockets not look at buying at the assets at the firesale prices we just had.
Ecana has some great property and to be able to score stock under $5.00 was a gift for me ...
I would say, at this price, majors have to be thinking, lets accumulate stock and take a run at it.
OIL is a longterm play for most of the bigger players and they are always looking for fields for the next run up.....I would not be surprised if a buyout comes sooner than later.
Shorty had to cover and price shot up, but fair market value for a takeover, still north of $10.00
It is still a money maker in the near future....Oil is longterm, not something they expect to profit from overnight.. Some of these guys put Billions and years into a project.
So, two plus two, would say..................Be on the lookout for accumulation at this price.
$10.00 here we come.