GREY:LSTMF - Post by User
Comment by
Wellsitteron May 04, 2010 11:33am
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Post# 17060720
RE: deep pockets
RE: deep pocketsSkewing the words equally desperate? I clearly said "a big piece of a big pie (7-10 billion bbls OOIP)". The "big pie" is 7-10 billion barrels. No where is it even implied in my statement that this was PBN's share. You implied that I had implied something that I clearly didn't.
Moreover, 10 years ago the Cardium was virtually un-producable. The same was true with the Clearwater and the McMurray little more than a couple of decades ago. CSS and SAGD originally allowed for 10 - 15% recovery where now CSS (the less efficient of the two) is nearing 50%. With current technology the Cardium will give up a fraction of the OOIP but I suspect that too will improve.
And once again you over-state your case: "How much market value has PBN lost since the NR on the Result take over?from what? 34/share in early Jan to 27.61/share yesterday (a 19%haircut) that says to me... the Jury's out..."
You must then also agree that the "jury is out" on Exxon-Mobil which was $75/sh in Dec and now $65. How about Talisman, now at $17 from $20.50. How about that POS Suncor down from $39 to as low as $32 before coming back in recent days. Truth is that PBN has held as well as some of the majors and better than many.