RE:RE:RE:RE:RE:Valuation TOU vs. ARCReserves after a certain point don't represent a great deal of value, that why mining never considers resouce when you have more than 25 years of mine life. The how agressive they are at the booking of reserves is very much a management choice, TOU is very agressive.
Profitibility todays, is the key concern and the value of TOU BOE's compared to ARX boes just is not there right now.
ARX send a significant amount of gas to the west coast but those localized premiums will not last forever.
ARX opp costs are comparable to TOU op costs even though they are roughly 40% liquids and TOU is a lot less.
ARX produces twice the oil and condensate that TOU does, which prices for a premium right here in Alberta without a lot of transportation costs.
ARX with have more FCF in Q1 and there will be a stampede of TOU shareholders pursuing the unrecognized value in ARX, selling their POU shares and buying ARX shares.
IMHO