GREY:STPJF - Post by User
Comment by
monzieon Jun 02, 2014 9:01am
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Post# 22620202
RE:RE:RE:Remember to always.....
RE:RE:RE:Remember to always.....No one's saying that there isn't oil in the ground. Everyone knows that. The naysayers argument is that STP isn't producing enough bbl/d to profit (which is true so far), and that the company has a lot of debt, which is true as well but there is still alot of time before the first collection knock at the door. The majority of stakeholders are investing in the company STP not the Canadian Oil Industry. So yes there is a future in Canadian Oil, but the argument is whether or not STP will still be around in the future.
Off topic there was an article on Bloomberg on Friday which stated that more and more Canadian Oil Sands are now regaining access to lenders whereas last year it was next to impossible for a junk bond classified company to get a loan or extension. So this is definitely a positive.
https://www.bloomberg.com/news/2014-05-30/third-avenue-leads-bullish-junk-bets-on-oil-sands-canada-credit.html?cmpid=yhoo