RE:Oil and Gas Stocksok2buy wrote: AOS held up very well in this trading session. Total carnage in the oil and gas sector again today. CNQ, CVE, ECA, SU, HSE are all getting destroyed today. Poor PGF (Pengrowth Energy) is in danger of slipping below 3 dollars with a close @ $3.17 down 8.12 %. I cannot see how they can maintain their dividend. PRE (Pacific Rubiales Energy) closed @ $8.20 down 17.84 %. Unbelievable. I talked about that one in an earlier post, did not think it would wind up tanking so bad on mediocre news. To shed 1/6 of your value in 1 day!!! Finally COS (Canadian Oilsands) closed @ $10.98 down 16.37 %. They have already said they are cutting their dividend by 42 %, down to 25 cents. What a mess. The Saudi's must be laughing at what they have created. For those of you who are only looking at the gas pumps, yea, it is going to be cheaper. But at what cost, this is totally going to screw Alberta's economy and repercussions will be felt across Canada. Good luck to all AOS holders, ok2buy.
These are great buying opportunities as who knows how short lived will this dip in the oil price last considering at a moment's notice OPEC can cut production and BOOM... price skyrocket back up!