RE:RE:RE:Maybe this stock's fair value is $5.53 at $73 oil. I will be hanging on to my shares for a couple years and we'll see how things play out. IMO, the day to day noise of stock price ups and downs that we are seeing will be nothing compared to the impact of the tailwinds that blow in our favour:
- 7 years of underinvestment worldwide in oil E&P
- Aging Fields in traditional oil producing countries (see Daqing, Cantarell, and Prudhoe Bay for a preview)
- End of growth in Shale Oil production in the US... maybe even flat or declining production.
- with TMX, significant pipeline access to tidewater for Canadian oil producers (finally!).
- An ongoing need for oil in economies all over the world and the inability of alternative energy sources to fill the need
IMO, Oil price isn't going anywhere but up, and take a look and CPG cash flow even at current oil price. GLTA longs.