(A Top Pick Aug 5/05. Down 3.2%.) Valuation looks pretty good. Sourcing of the profit growth looks pretty good. ROE is deteriorating. Sold his holdings.
(A Top Pick Aug 5/05. Down 3.2%.) Valuation looks pretty good. Sourcing of the profit growth looks pretty good. ROE is deteriorating. Sold his holdings.
They are blowing their brains out on the costs of their oil sands project. This is why they have under performed the rest of the market. Prefers others.
They are blowing their brains out on the costs of their oil sands project. This is why they have under performed the rest of the market. Prefers others.
In the integrateds in Canada, this is the weakest company. Costs have gone out of control on their oil sands project. When gasoline margins were sky-high, they had problems with their Montréal refinery.
In the integrateds in Canada, this is the weakest company. Costs have gone out of control on their oil sands project. When gasoline margins were sky-high, they had problems with their Montréal refinery.
If you're looking for a large cap name that is integrated, he would suggest Imperial Oil (IMO-T) or Petro Canada (PCA-T). Nothing wrong with it, it just has a higher valuation than any of them.
If you're looking for a large cap name that is integrated, he would suggest Imperial Oil (IMO-T) or Petro Canada (PCA-T). Nothing wrong with it, it just has a higher valuation than any of them.
Their largest play is the Athabascan oil play. Have brought production costs down to $22/23 a barrel. No debt and very strong balance sheet. Has fairly high valuation, but there are good reasons for it.
Their largest play is the Athabascan oil play. Have brought production costs down to $22/23 a barrel. No debt and very strong balance sheet. Has fairly high valuation, but there are good reasons for it.
Affiliated with some of the oil sands. Has good prospects. Has had a good run. A little more pricey. Prefers CNQ (CNQ-T), Talisman (TLM-T) or Petro Canada (PCA-T).
Affiliated with some of the oil sands. Has good prospects. Has had a good run. A little more pricey. Prefers CNQ (CNQ-T), Talisman (TLM-T) or Petro Canada (PCA-T).
He would be switching from this to Imperial Oil (IMO-T). It got a lot of momentum behind it because of its oil sands and a possible takeover by its parent. This has now become overpriced.
He would be switching from this to Imperial Oil (IMO-T). It got a lot of momentum behind it because of its oil sands and a possible takeover by its parent. This has now become overpriced.
The oil sands is the best natural asset in the world. As a long-term hold and a way to keep some holdings in the oil sands, this is a good company to have. May be a little rich at this point.
The oil sands is the best natural asset in the world. As a long-term hold and a way to keep some holdings in the oil sands, this is a good company to have. May be a little rich at this point.