PWE closed at 42.63 and Oil was less than $80....Today it as $135 to $140 or any given day and PWE trades below $35 a share....since then PWE has made acquisitions drastically boosting reserves and properties....Did PWE pay to much or does PWE stock has some work to do marching north....Any ideas ...serious responses only please
You also have to remember that the Cdn$ has appreciated 40-50% to the US$ so in Cdn$ terms the price of oil and nat gas is up but not as much as we want to believe. I am holding this one. It is a 200K bpd company and will grow through more acquisitions.
Canada's government through a monkey wrench in the intire investing program with respect to income trusts along with the fact that the cost of pulling oil and natural gas out of the ground has increased considerably since then.
I bought after the tax announcement so I'm not as bitter about this.
Hey, look at obama. He wants an "excess" profits tax on the oil companies that he would give back to the middle class. With that nitwit likely taking over, suddenly canada doesn't sound so bad. If Mr. Change is successful, perhaps it will shift focus to canada and help us out.
You forgot to mention the 2-faced,lying politicians also, and don`t forget to add the lying friends of the politicians. I am a Cdn and that decision made me sick to my stomach. Yes, pwe should be much higher. A lot of retail investors up here have been scared away from these equities.
stocks move the way big money wants them to move - look how - the big money tanked both CNE and PWE - this will probably do very well in the long rung - unfortunately there has been minimal reward for the risk - most other stocks in this sector or even ETF's would have been a better choice.
PWE is trading lower because of the tax changes that will take place in 2011. Despite that, this stock has already started its march to $50.00. Sit back, collect the dividends and enjoy the ride. Smart money is long this stock! If there was ever a change to Canada's tax law with these trusts PWE would be @$60-$80 per share immediately! Earning for the coming quarter will be stellar. This is the palce to be.
Hi richcannata: I agree with your opinion that the CanRoys including PWE should be much higher; but many investors got so bummed out with the major unexpected tax proposals of Oct 31, 2006, that they refuse to consider CanRoys and no longer trust the Canadian government to be fair to investors.
But if they would come back and look, they would find an outstanding outlook for the cash flow of PWE; outstanding oil and gas assets; oil pools that should go beyond the 2011 distribution protection, etc.
I consider PWE the best specific investment I own at present and I am buying more through DRIP program and when I have free cash.
Max profits to all the longs in PWE!!