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Tourmaline Oil Corp (Alberta) T.TOU

Alternate Symbol(s):  TRMLF

Tourmaline Oil Corp. is a Canada-based crude oil and natural gas exploration and production company. The Company is focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. It operates in three basins, which include the Alberta Deep Basin, NEBC Montney Gas/Condensate and Peace River Triassic Oil. The Company has ownership interests in 16 natural gas plants in the Alberta Deep Basin. It owns and operates five natural gas processing facilities with an aggregate capacity of approximately 325 million cubic feet per day (MMcf/d) with related gas gathering systems and NGL handling infrastructure at NEBC Montney Gas basin. The Company owns and operates two oil batteries at the Peace River Triassic Oil basin, which handles approximately 48,000 barrels per day of fluids and the associated natural gas is delivered to a third party for processing.


TSX:TOU - Post by User

Comment by bagcheeseon Feb 02, 2022 1:20pm
209 Views
Post# 34389776

RE:$50 resistance

RE:$50 resistance

There's actually no resistance at $50. If we can close above $47.80 today or whenever, there's no technical resistance until the mid-50's. If you're talking about psychological resistance in the number / price of $50 ..TOU blew past the $40 level like it didn't even exist. I don't think there's many people with shares in the $50 plus level except Mike Rose and he ain't selling. Anything above 47.80 or there abouts can almost be considered blue sky I would think.

TOU's chart is beauty and above all moving averages and as far as technical resistance above $47.80 there's no resistance until $55.15 and it's very weak resistance. That would mean another 15% run up before facing any resistance from the current price of $48. 

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