A few thoughtsGood morning all!
A few thoughts/points on SGY:
1. I still hold what I would describe as a large position, have not sold a single share and continue to add small bits from time to time.
2. SGY has stated multiple times that at $55 WTI the dividend is safe, this statement was also made when differentials were larger then they currently are for WCS and Canadian light. Currently at $13 and $5.80 respectively.
3. It appears that Trans Mountain is going to get build, with the money being spent on the terminal in BC and starting up in Edmonton in a couple weeks, we are starting to see some progress. Projected finding date 2022, in saying that I’m sure there will be some delays, still nice to see some work being done.
4. Election on October 21st, at this point it looks like it will be a minority government, unfortunately! However at least it will force the parties to work together, and we don’t not have Trudeau runnning the ship acting like a dictator. A ministry government will be better then what we have for the oil industry, not as good as a Conservative majority but still and improvement!
5. Got to love that Paul continues to put his money where his mouth is and buy stock, speaks to his faith in the industry’s and his company.
6. Could be a bomb go off st anytime in the Middle East that sparks and all our war. If the Saudi’s or US ever decide to make a move on Iran oil will be at $100. I personally don’t think it’s a matter of if, but a matter of when!
Have a great day and good luck to all the longs!
Kid