Weaker $CDNThe Canadian dollar is trading at a 4 years low vs. the US dollar at 91c. This is not being reflected in the value of EPS Canadian stock price of late. Currently our cash flow and asset value translated in Canadian dollars is 9% higher compared to 6 months ago. To maintain valuation parity with where EPS was 6 months ago, EPS would have to trade at $3.7+. This upside is purely currency generated and not counting on any of the positive developments that have taken place over the last couple of quarters in terms of new management, proper board alignment, lower G&A, focused operations, better NG prices and a value maximization plan for the Marcellus assets in 2014.
Regards,
Nawar