Bruce Campbell (1)
Petro-Canada
PCA-T
TOP PICK
Dec 21, 2005
Likes their sale of their Syrian assets to China and India. They will use the proceeds to buy their own shares back. Given their reserves, proven and probable, the stock is trading at $11 a barrel. Only trading at 8.5 X next year's earnings.
Merging with Suncor (SU-T). The reason to buy either is that they have a production profile that could grow dramatically. If you are positive on energy over the next little while, it makes a ton of sense to have a senior company like this.
Merger with Suncor (SU-T) is pretty much a done deal. Doesn't think this will go any higher so he would sell and pick up more Suncor, which is in the penalty box right now.
Merger with Suncor (SU-T) makes all the sense in the world. Very good combination. You get the oil sands along with a cash flow that will come from their more conventional assets.
(A Top Pick Oct 16/08. Up 107%.) (Now Suncor (SU-T)) A dominant player. Well diversified across gas, oil, oil sands, upstream, downstream. Will be the bellwether stock in the oil/gas industry.