Bruce Murray said CPG produces marginal oil Could someone explain what Bruce Murray meant when he said that he would not buy CPG now because it is a producer of marginal oil? TIA.
Here is what he said on BNN on November 14 when the stock closed at $5.08:
''The issue with CPG is that Canada is a high-cost oil producer, but CPG is producer of marginal oils, which is even worse. Also, they have lots of leverage. The low price of oil is killing them. If the price of oil shot up to $100, CPG would be the stock to own because it'll rocket, but he doesn't see this happening. He wouldn't own this or any energy stocks.''
https://stockchase.com/company/view/1571/CPG-T