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International Petroleum CompanyIPCO.TOUnspecifiedAug 10, 2026Stock price when the opinion was issued
As of Aug 21, 2026. Market Open.
Generates all kinds of money. Really clear pathway to growth -- fully funded, and will increase FCF. Very long-life production. Adult supervision from the Lundin family, which controls it.
Sees 45% production growth in next 2 years. Expects you’ll do well in share price appreciation and dividends for 2-3 years. In the 3-5 year timeframe, suspects it’ll be sold to a premium bidder. No dividend.
It has done a good job with the oil sands process. It has always been expensive but its project is now online. Liquidity is a bit of a challenge. He might take a look one day but doesn't own.