Remains bullish on oil prices.
Large volatility in oil prices due to instability in banking markets.
Believes dislocation between financial and physical demand for oil.
Indication from China is that demand for oil is still growing with re-opening of economy.
Inventory slowing rising, but not concerned for long term energy prices.
Expecting higher energy prices going forward.
People overly bearish on oil price with US shale production falling.
Fundamentals in market is suggesting less supply than demand.
Ranger acquisition (Ranger Oil) misunderstood by the market.
Believes deal is accretive on a per-share basis.
CEO recently buying back stock himself.
$70 oil would equate to $700 million in free cash flow.
Bough 4mm shares last week.
Has ownership in Clearwater play - the most economic play in North America.
Largest holding in fund and continues to own shares.
Highly leveraged to the price of oil.
Expecting a 100% gain in share price.
Premium quality asset and very long reserve life.
Returning 100% of cash flow to shareholders by the end of the year.
Will continue to own shares.