RE:Reality.. Kavern I am looking through everything I see in the cdn oil patch and at least 90% if not 95 are solid buys right now. The sector is out of favour while tech is dominating but everyone is healthy except for the most miserable poorly capitalized companies. Tax loss selling should see the bottom put in any day now.
my biggest wins are Tenaz and Valeura so internationally focused energy companies, whereas domestics have been poor. But this year my tech buys have gone up so fast it is laughable. When you can buy a company that doubles in a few weeks, AHEAD of expectations it makes me feel for the poor oil and gas company that drops AFTER solid results. That will end sooner or later.
Tenaz does have a few thousand BOE of production South of the Edmonton Airport. They just announced in their last update that they will drill glauc, ellerslie and maybe a Sparky well on land by Calmar that was the focus of their Rex play. BNE has a ton of land East of Drayton they are not doing much with that probably has similar options. They need to redo the geology.
weak gas prices have hurt everyone - even non gas producers - as overall interest in the sector and financial activity have been hit. Cardium producers have been hit but so have everyone else.
I don't want BNE to disappear as a standalone company. I would rather see them as a consolidator than the consolidated. We will see what happens but I think this is the bottom.