RE:Top 2 Buyers Yesterday- the SELL-SIDE ANALYSTS have their OWN INTEREST AGENDA so I would be VERY CAUTIOUS and SUSPICIOUS of the "FREE" RATINGS and PRICE TARGETS
- having said that, the TIDEWATER TMX pipeline BEGINNING OPERATIONS in LATE MARCH/EARLY APRIL is VERY GOOD NEWS INDEED for Cenovus Energy
- they will START SLOW but over a FEW MONTHS {as LOGISTICS are WORKED OUT}, they will RAPIDLY REACH their 125,000 bbls/d BOOKED SHIPPING CAPACITY on the TMX
- I DON'T see them SELLING to ASIA early on but DEFINITELY to the WASHINGTON and CALIFORNIA state refineries
- the WCS gross margins should DEFINITELY INCREASE
z173