RE: What's Up???? Volume is really low for this size of drop. There is no sign of panic, just no buying power. If the waterflood was showing badly, the people with access to GeoScout would know by now and there would be more selling pressure. However, having said that, they would also know if the waterfflood was going well, and there is no buying pressure. So that completes that useless circle. This has to be my worst post ever...lol.
Ok, here's a good thing, the strip price on Canadian light oil ( what Pinecrest gets paid):
| Net Energy Sweet Closing Price* | -$1.25 | USD/BBL | $95.33 |
$95.33 US, or about $97 Canadian.
In Q4 Pinecrest realized 98% of Edmonton Par ( Net Energy Sweet), so they would realize $95 presently versus $82.72 in Q4. Netbacks will presently be in the mid to high $70's, some 15% over guidance expectations.
Terr