No brainer to buy in Just when?I have been trying to get a long postion in this cruriosity though I keep getting stopped out! As of right now I have a half position @11.30.
Really surprised its sold off sooo hard sooo fast. NDP stuff is way overblown - not a cirtainty and thats way down the line and only if price recover up to the point that oil sands companies get back to way profitable. Really its been known for quite a while the NDP would get in so thats overblown.
90 years of resource, signifigant cuts to the cost structure, still a possible takeover target, stable country, dividend soon to be re-established (12 months) - whats not to love?
Make no mistake about it oil prices will go back up sooner than later. Rig deployments are way down worldwide especially in NA. World demand is strong growing by 1.2 million a year. Oil will for cirtain touch $80 US a barrel in the next 12 months and the media will be sooooo surprised as they ever have f'n clue. Its not rocket science - less drilling means less oil which means higher prices. It'll be quick too when it happens - just watch.
Just don't get COS though. Oil sells off a buck and COS sells off a buck. Its not a logical 1:1 relationship!