Ain't seen $8 since pre-pandemic panic; glad you stayed!
Last time we were at $8, oil prices were stuck in the $50's as North America choked on oversupply brought to market form US shale producers. A pandemic panic induced recession cleaned up that oil glut and instilled so much fear in the hearts of E&P executives that they've finally figured out break-even is $70wti for a shale barrel and that it's better to be solvent while maintaining production rather than bankrupt and growing production.
Big wake-up call across the board. Heavy debt/leverage is the killer of businesses when times get tough. GH has been conservatively managed the entire time, that's why they weren't forced to sell-out like big brother Great Canadian Gaming.
Thanks to all who provided supportive ideas and input along the way. You likely helped other investors buy GH shares or hold onto the shares they owned.
Hats off gang. Time to sip a beer and look back at the battle we just went through.
See ya'll at $10+ over the next 4 quarters.
Looking forward to a Kasking guest appearance at Great Northern or the Deerfoot!
Cheers