Cenovus books huge loss
Question to the board in regards to the recent announcement that Cenovus energy (CVE) will be taking almost a Billion dollars of hedging losses or more. Why would they do this? Is this a mandatory corporate tax loss strategy on reporting what they lost vs what they made? Another question regarding BTE, we are hedged at 40%, will Baytex be reporting huge losses also, along with Arc resources? Yes they're all making some great FCF but at the same time are we being punished by the market because of the hedging? Earnings reports can be manipulated to look great or very bad, we know this so which one will we see April 28th? I'm long in BTE but at the same time I'm not a fan of the CEO or his team. Yes the monthly updates online are nice, not much changes in them, same old information. Tell me something new ED, give us something to get excited about before you lose Eric Nuttalls patience.