First, the price is way oversold. Second, the fact that Opec slashed output is creeping up 3rd, The middle east could blow up any minute 4th and probably most important is what is going on in Russia and the Ukraine. Russia is going back to being the Bear and cutting off gas to the Ukraine is going to hurt Europe. Other than that, who the hell knows.
1) Oil going higher 2) recovery will boost demand at those higher prices 3) Canadian Gov't change could ( maybe) lead to change of tax policy reversing the tax change of 2 years ago. THAT possibility could DOUBLE the price of these CANROYS instantly if it starts to take root.
CANROYS are the single biggest bargain on the planet. 20%+ after tax returns and the the real possibility of a one day DOUBLE on tax change.
My prediction: They will roll back 75% of the tax change and PWE will be trading at $ 35/share by Sept 1.