David CockfieldPetro-CanadaPCA.TOBUY ON WEAKNESSSep 28, 2007
Cheap on an integrated basis. Has lots of production outside of Alberta. Have been making reasonable money on the downstream side. Trading around 10, 11X earnings. Prefers it under $50.
(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.
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.
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.
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.
Merging with Suncor (SU-T) and would prefer to buy this rather than Suncor as the deal risk is minimal. Thinks government and shareholders will let the deal go through. A cheaper way to go.