The reasons I bought CJ over BNE
I like the fact both pay 8% div. and it's just for me but. 1) already have 30% of mine in BNE, basically I prefer BNE if I don't have any, tho. 2) light crude like BNE over supply, light crude is stacking up in refinarys and is becoming unprofitable to refine do to its high viscosity. Several of the US refineries are designed for heavy. 3) Venezuela's lack of heavy oil supply and CJ's good balance of both heavy and light. 4) CJ's potential for improvement in reducing costs (layoffs or something) , I think BNE is on its best cost saving mode now. 5) better decline rate But I also worry about potential railway strike/pipeline issue/WCS price and I also hold CVE (most under valued Integrated oil company) and MEG (potential takeover prospect and low cost/good balance sheets after selling some facilities), for heavy oil I like economies of scale. Thanks