Re: Okay, let's think long term
in response to
by
posted on
Mar 26, 2010 08:43PM
Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta
Brian,
If we have another significant market downturn all bets are off for most organizations. US dow will go lower than 6500 and panic will set in.
If oil price goes down significantly we have trouble, but we also have hedges. If you think trouble is coming then sell. I think China and India will continue to grow oil needs, prediction today was a 20% increase in oil price this year due to China growth.
Also, no way around a mid east problem this year.
Its pretty simple, if economy tanks again we have big trouble, thats obvious. If oil stays around current level then prospects for this organization look very good moving forward. Oil price is key and no one has a crystal ball.
Bashing means nothing, pumping means nothing. If you think oil is going up due to multiple global issues then buy or stay invested. If you think trouble is ahead for global economy and you have no faith in this company then sell.
When PBG was producing 40,000 they were at $50, if we get that production with our float, we could be at $8.
Its out of our control, its a guess on the future based on available information, take the ride, or cash out.