Investing

is now the time to invest in oil stocks?

  • Last Updated:
  • Jan 20th, 2019 12:27 am
Tags:
Newbie
Jan 8, 2015
57 posts
16 upvotes
Toronto, ON
What do you guys think of CPG? I bought shares at 8.xx but I know that because of the bearish market things are dwindling. Any thoughts?
Deal Addict
Jan 22, 2006
4114 posts
2039 upvotes
Northside
Sequanium wrote:
Nov 29th, 2018 11:55 am
What do you guys think of CPG? I bought shares at 8.xx but I know that because of the bearish market things are dwindling. Any thoughts?
In the same boat as you
#WeTheNorth
Deal Guru
Jun 26, 2011
11602 posts
1868 upvotes
Markham
Sequanium wrote:
Nov 29th, 2018 11:55 am
What do you guys think of CPG? I bought shares at 8.xx but I know that because of the bearish market things are dwindling. Any thoughts?
I'd probably hold but wouldn't add until the political climate in Canada changes. Energy is just brutal. When they talk about blood being in the streets and nobody wanting to buy I think we've hit that point so there is the opportunity for big value but the problem is no catalyst in sight to change things.
Deal Addict
Oct 22, 2014
2896 posts
1072 upvotes
Toronto
RolandCouch wrote:
Nov 29th, 2018 12:03 pm
I'd probably hold but wouldn't add until the political climate in Canada changes. Energy is just brutal. When they talk about blood being in the streets and nobody wanting to buy I think we've hit that point so there is the opportunity for big value but the problem is no catalyst in sight to change things.
Even when federal government changes in 2019, how long is it going to take to complete the pipelines to alleviate the WCS discount? 3 years?

Blood in the streets when the WCS is negative like the NatGas in Texas today.
Deal Guru
Jun 26, 2011
11602 posts
1868 upvotes
Markham
Elfwood wrote:
Nov 29th, 2018 4:26 pm
Even when federal government changes in 2019, how long is it going to take to complete the pipelines to alleviate the WCS discount? 3 years?

Blood in the streets when the WCS is negative like the NatGas in Texas today.
I don't think WCS is going to go negative personally. Can't answer the question about how long to alleviate the discount but the biggest thing is the sentiment. If the election was tomorrow and conservatives were in federally, I think you would see a lot of money head back into the sector in anticipation of improvements.
Sr. Member
May 28, 2007
707 posts
176 upvotes
Sequanium wrote:
Nov 29th, 2018 11:55 am
What do you guys think of CPG? I bought shares at 8.xx but I know that because of the bearish market things are dwindling. Any thoughts?
Same for me. Same price range. Was up $1,800 about a month after buying it. Now I'm down over $2,200. On the fence whether to buy more or just get rid of it.
Deal Addict
Aug 17, 2008
1766 posts
920 upvotes
jerryhung wrote:
Nov 30th, 2018 9:03 am
when oil goes up barely, it comes down more @@
CL < 50, like my Cdn oil co investing IQ
Member
Aug 16, 2015
321 posts
54 upvotes
jerryhung wrote:
Nov 30th, 2018 10:06 am
next up, Alberta going bankrupt by paying others to buy our oil
Im waiting for CDN to collapse. that could be next.
Sr. Member
User avatar
Oct 14, 2015
525 posts
179 upvotes
You'll want to listen to last night's Charles Adler monologue on the crisis facing Alberta.
Sr. Member
User avatar
Oct 14, 2015
525 posts
179 upvotes
Effective Jan 01, 2019
Alberta will cut 8.7% of crude oil production (325,000 b/d)

To protect smaller producers, there will be a 10,000 barrel exemption.

I heard "purchase of 7,000 rail cars" but that sounds high to me.

~ the above subject to verification.
Deal Expert
User avatar
Sep 19, 2004
21984 posts
4036 upvotes
Waterloo
It's about time, since Federal/JT won't do anything (besides buying TMP with taxpayer money and do nothing with it)

Premier Notley announces mandatory Alberta production curtailment | BOE Report
https://boereport.com/2018/12/02/premie ... rtailment/
Alberta Premier Rachel Notley announced a mandatory oil production curtailment of 325,000 bbl/d or 8.7% of total provincial production, beginning January 1, 2019.

The total production curtailment is approximately 75,000 bbl/d less than what many in the industry called for, and does not specify if there is a minimum production threshold per company for enacting the curtailment.

The premier said the law will be reviewed monthly.
Which Credit Cards to sign up? >> Jerry's List of Credit Cards with $200+ Welcome bonus/Aeroplan & AMEX Churning FAQ
AMEX Personal 60K || Business Platinum 75K || Biz Gold 40K
Deal Addict
Jun 15, 2012
1406 posts
188 upvotes
MB
Don’t know if it worth it.
Western Canada Select (WCS), the benchmark for heavy oil in Alberta, continues to trade below $15 per barrel, or roughly $40-per-barrel lower than WTI.
Sir David Attenborough: someone who believes in infinite growth is ‘either a madman or an economist’

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)