RE:Uncharted waters for the all time low @$4.15 Canadian
True, but the PB at that time was just above 0.2 so it was an utter giveaway, especially when one thinks of the reason - a re-rating of the debt that raised their interest costs $13 milllion a year on sales of over 2B. Laughable. Those are the times when I like to slap Mr. Market in the face and tell him he knows nothing. Made very nice a bundle off that one, paid off the debt and then some.
But to get to that level today you'd need to see a price of $1.90-$2.20. I don't think you'll see that here, but I also don't think the recovery is as quick. The US pumps ever more oil and gas every day - 12 million bbboe/day now! - which takes directly away from all Canadian producers' markets, and ECA are carrying a lot more debt for their earnings this time. Recovery will take years. I'ts still a good deal - perhaps at $4.50 or $5 - but it's not money to spend your 2020 vacation on.