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Opinions Bruce Campbell (1)
Harvest Energy TrustHTE.UN.TOBUY ON WEAKNESSJul 09, 2007
Purchased refinery at Come By Chance in Newfoundland. Crack spreads have been wider in the last couple of quarters. Production side has been a little weak. He is getting a little twitchy because he thinks the spreads will contract and the stock may pull back some. Like it long-term, but at this price he’s a little nervous.
Bruce Campbell (1)Owned
$34.34
Stock price when the opinion was issued
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Conventional oil/gas production in Western Canada and refining in Newfoundland. Had taken on a lot of debt to acquire the refinery and refining margins have not been good. Doesn't see this changing for while. Changeover in 2011 is another challenge and they have their work cut out for them.
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COMMENT
One of the few companies that has a refinery and have done quite well on the refinery margins. Has been playing this through the convertible bonds, which he thinks is a better way of playing it.
Jaime CarrascoOwned
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COMMENT
One of the riskier oil/gas income trust. Huge refinery in the Maritimes. Plant was upgraded and is good. The refinery can swing earnings around significantly. Oil and gas operations have not been that great. Likes the yield of 8.6%. Doesn't expect it to go back to its high levels of a couple of years ago.
David CockfieldOwned
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