RE: End of OctoberYou bet!, Brent has averaged $110+ so far in the quarter (currently $115), WTI is at the high $80s, heavy oil is at high $70s due to shrinking discount, refining margins $30s, Canadian dollar weaker, NG prices flat, while the company overall production especially in liquids is set to rise significantly as the company resume accelerated drilling in western Canada after the flooding in Q2, the resumption of Rainbow pipeline, first production from West White Rose; basically the multiple billions in increased capital spending committed last year to increase production are bearing fruits with every passing day; another strong quarter on the back of a great quarter in Q2 will further demonstrate the disconnect between the company share price and the underlying business; not to mention a number of expected catalysts to come in terms of partnerships and exploration upside in the east cost; further more yesterday John Myer mentioned that 3rd party estimates of recoverable reserves at saleski will be coming out very shortly.
I was also amazed to see how
close Laricina Energy project at Saleski is to Husky leases in the area, check slide 11:
https://www.huskyenergy.com/downloads/investorrelations/presentations/Peters_Co-North-American-Oil_Gas-Conference-September2011.pdf
for those who don't know Laricina has one of the most promising pilot projects in carbonates ever built, the recently closed another round of financing at $520m, with an IPO expected late this year or in 2012:
https://www.calgaryherald.com/business/Laricina+raises+520M+equity/5337982/story.html
Regards,
Nawar