RE:Oil Price is Ugly.
US expected to lose 100k bbl/d of shale production this month. US rig count down to 650 from 1,676 a year ago. Not enough rigs to maintain existing production. The coming months will bring news of production declines in Eagle Ford, Permian and Williston.
And for those hurt by PRE's performance, if you do not understand who controls the Campo Rubiales Oilfield, you should not have bought the stock.
Name changed from Pacific Rubiales to Pacific E&P. Look at history of field.
COS is the holy grail of oil reserves on a per share basis. You cannot replicate this investment. SU's offer is inadequate and insults the intelligence of COS shareholders.
If you own COS and expect oil to climb back above $40 withing the next 24 months, you will have better performance by continuing to own your COS stock. Do not give your shares away. SU is attempting to exploit shareholders with fear and intimidation tactics.
Don't let SU bully you out of your ownership of the crown jewel COS, and don't look for investment guidance from message board day-traders who do not understand the difference between COS and PRE.