RE:RE:RE:RE:RE:Bargain?I'm long... Very long. I've held most of my shares since the Husky takeover and everytime I get close to clicking sell, another potential catalyst emerges. I view this downdraft in oil prices as a gift and added to my already substantial positions in CVE & MEG.
Completely Ignoring the looming war in the middle east that can skyrocket prices at any moment with a literal rocket... There's still dust to settle in the current market that's bullish for CVE. It just needs time to settle.
They just hit their debt target and we will begin seeing the effects of that slowly quarter over quarter as shares get gobbled up and we will see a curve like Athabasca.
TMX has drastically reduced the volatility in WCS narrowing the discount and the high USD vs CAD is an even bigger bonus for us. If the heavy oil discount remains tight quarter over quarter, year over year this alone change's the game for large heavy oil producers.
Taking an even longer term view, once the share count shrinks the pathetic dividend will inevitably increase along with the SP. This patients has paid off big time since my buy in under $5. I have no intention of selling until the dividend is raised.
Now should any Iranian infrastructure get taken out, you'll also have a lottery ticket in hand if you decided to hold throughout the bubbling conflict in the middle east.
GLTA.