RE:RE:Humph - WTI up 3%, CVE down 1%It is not really unfortunate as long as the NCIB is in place and CVE is buying back shares in quantities that are as large as they can afford to. If you look at this as a $40-50 CAD stock by the end of 2023 then these prices (even above $25 CAD) are bargain basement and buybacks are at a 2% tax discount for the next 13 months only and that window is probably too large. When the market figures out that oil is going north of $100 and CVE is minting money the share price is going north of $30 CAD and the buyback party is probably over. IMO CVE needs to buyback the 10% of stock that the current NCIB allows before the next ER or they won't be buying back anymore unless AP moves that $30 CAD goal-post and I don't really see that happening.
GLTA longs
oilandgasmick wrote: Unfortunately for us, the analysts keep screaming "recession, recession, recession and decreased demand" despite any evidence that demand is decreasing.
Meantime a 12mm bbl draw last week. The midterm elections are over and Biden's SPR strategy worked. Now reality sets in.