Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

RE:RE:RE:RE:RE:RE:I Told You That This LIMP Dog Was A Capex MUNCHER !!!

[oilandgasmick]

Matt-

I think there are 3 major factors here:

- analysts (there's that word again) are saying that HSE is going to be negative free cash flow for the next few years so why buy these guys now- why not wait a few years and in the meantime load up on SU. What's the rush when you can buy elsewhere?

It's obvious to me that HSE took on too many capital expenditures in their plans and even though they've now slashed capital expenditures it still isn't enough to satisfy the market.

- a general mistrust seems to surround virtually every producer not named Suncor or CNRL. CVE has rebounded somewhat but is still a long way from its 30 something high of the pre-crash. Ditto for a dozen others.

- you are definitely right about the mistrust surrounding ownership and senior management. They all need to go but when one guy has 70% of the shares you can't just move him out. He needs to bring in a new guy like CVE did to generate some renewed faith. PR has been an absolute disaster under this regime. Every time they open their yaps people want to press the sell button. At least hire a good PR firm like hollywood stars do.

Having said that balance sheet is still very good and list of assets is impressive but again, so what to a world that wants investors out of "fossil fuels." Don't bother arguing with that religious cult--they don't want to hear it.

Just my opinions mind you. General malaise across the Canadian oil and gas industry. I am taking the long term view and patience. No way do I want to sell here.