temporary setback
Tough week for CPG, no doubt about it- SP dropped for 5 consecutive days. Nothing in the fundamentals has changed since April 1st when it was at $48- oil dropped off early in the week but has come back strong to almost $110 but yet SP keeps falling off. I would have thought Eric Nuttall's comments on Wednesday on BNN about CPG would have a positive impact but nothing- I swear Nuttall must have mentioned CPG about 10 times that night (all praise); in fact one email was about Pengrowth but Nuttall spoke about CPG instead and stated Scott Saxberg was one of the smartest oil executives he's ever met. I'm dissapointed with the recent SP but when I look at the whole picture with CPG, I'm confident we'll see $50 soon: 90% light oil, high netback, production increasing every quarter, immense potential for growth through land holdings and waterflooding, great management team, oil at $110, etc.