By hungry oils out there.
The big oils think long term. The short term transportation problems will be solved completely in the next three or four years. Surprised somebody has not made a play for PWE at this cheap price.
Sentiment: Strong Buy
PWE is worth near $20.00 book value. Any buy out would have to be near that price or investors wouldn't go for it.
Current canada government is highly against foreign takeovers, which is one of the reasons it fell down to this level. Without the significant chance for a buyout, there is no additional premium.