Please allow me to copy my post from the WCP thread this morning as the message applies to most Canadian junior oil producers:
Q2 Results coming next week
... and they will be wonderful. So will the results of most "junior" Canadian oil producers. However, keep in mind that the numbers reflect results for April, May and June based on WTI of US$105/$110 on average.
WTI currently trades below US$100 and is expected to remain around that level for the next few months (check WTI futures for Sep/Dec 2022).
So Q3 result projections offered by management may suggest lower results to come. That is no reason to panic but... as usual... many short term traders will and long term investors may be offered some real bargains late next week and first week of August.
Keep some "dry powder", take advantage and diversify.