RE:A bit suspicious ...Ulysess, speak for your self.
There is nothing rigged about owning a commodity producing business. The market cap fell from $13B to $3B. Debt to equity was unsustainable without a rally in oil prices.
Oil supply and demand fundamentals are pointing to a recovery in prices taking place within the next 9 months. COS happens to be an early victim in the M&A arena, targeted for their inexpensive production and massive reserve life profile. SU has walked away with a steal.
That said, you take your capital and move on. Re-deploy, build it back.
This is not the time to stick your head in the sand and blame your self for Saudi Arabia and OPEC increasing production to stomp out production increases from US shale. Every energy company in the world has been caught in the downturn, not just COS. State-owned oil co's, mega-cap multi-national E&P, OPEC and the list goes on. Nobody was planning for $30 oil.
This is the time to review new investment candidates with low-cost production profiles, clever management management and operations that are out of reach of NDP tax grabs and Liberal indecision.
The silver lining here is that there will be opportunity to own energy related investments when the inevitable oil price rally takes place.
Yes, global inventories are high but spare capacity is non-existent. As soon as there is a material disruption in global supply or demand picks up to match supply, prices will rise back to the marginal cost of new production; that means $60-70 per barrel. I can find quite a few producers and midstream businesses that are content with that price range.
You throw in the towel now and it shows that you are nothing but a speculator who gave up because you convinced your self that investment in business is a game. I can assure you that owning corporations and partnerships of publicly traded companies is far from game playing.
Your song of defeat encourages me. When enough doubting Thomas characters band together, it will mark the bottom for selling. Shares will be in the hands of investors who understand the industry and know what they own. People such as your self set the market up for rallies. When you find the courage to buy your shares back, they will have rallied significantly already and you will likely be driving a rented porsche to your aunt's Florida condo.
Btw, you spelled your name wrong. It's Ulysses. Unless maybe you were trying to spell Useless, which I feel would have been a better handle for you and your posts.
You are decades from Homer's Odyssey