RE:What's holding this back The only thing I can say, is that the bears have been wrong for more than a year. Not sure why anyone would invest in Canadian O&G's unless they have a strong conviction that oil is going higher in Q4 and should stay in a range of $75 - $90 (may pop to $100). At this level, companies like TVE will be swimming in cash. Why anyone would sell in front of Q3 results is beyone me.
Could be some selling by hedge funds / specialty funds who have made great returns YTD, they may be trying to lock in some of this gain. Also, as always, weak hand retail sells on the downtick at the first sign of weakness. Weak retail is always wrong, so I have no concern that we will see TVE at $4 by year end. Mgt. should know what to do (a stock like WCP has shown the way), so I am expecting the right kind of talk by the CEO on the Q3 conference calls.