With a little investment cash, I bought Petro-Canada on the dip. I know Suncor buys me more oil per share, but I can't pass up a good bargain. Should I have splurged for Suncor or am I good with PCZ? Thanks for the reassurances (I hope they're reassurances!).
Petro-Can is a great company (notwithstanding its dismal last quarter). My thinking was since I can have limited investment money, I'd rather buy an oil company that can double production and has proven resources in a secure environment. You buy more oil for the buck with Suncor, and gas will be more valuable than gas stations in the coming years. But if I had bought Petro-Can at $22, I'd feel pretty good about my decision. : )
For a short term pop you did good, Laffs. If you don't get a sit-com in syndication, buy some Suncor for retirement. I also own and did not sell, on the dip, PetroCan. PCZ is another well run, maybe not for long, govt owned, oil company with gas stations every few blocks in western Canada. BUT still not a pure play oil sands operation, and subject to the same potential short falls in foreign supply just as any other NA major oil, except Suncor, and COS.to