and of course there is the other factor at play...the more light that is shone on the KYP the more folks question why we are so thriled to send Canadian tar oil own to the Gulf Coast (wher eit is just as liekly to be exported as anything) when we have plenty of higher quality oil right here in the USA. The jobs argument is nonsnense...this is more of a political issue than an business or economic one.
Keystone. That would have a significant impact on bad oil tar plays like PWE. With domestic production potential, I could care less if this #$%$ got piped through the US to the Gulf Coast.but the market does. I have had PWE for a long time (as a Canroy) and added some here recently at what I hope is the bottom.. I will dump these guys and never look back when/if I can break even.
Geniuses like you kill me...do you really think you have a handle on all of this? Then why waste your insightful knowledge on a board like here?
I remember the days of CANROYs too....had PWE and another one named Harvest Energy. Got into both in the high teens and then they got pounded during the downturn. After many pronouncements by the CEO of Harvest that they had no interest in being sold, they promptly did that. sand in the single digits ensuring that longs got screwed (management got a hefty buy out bonus). PWE slowly worked way back but never close to those halcion days as a CANROY. Mindful of the Harvest energy experience I was reluctant to average down but finally did on several occasions over the past month here. As of today on those buys are a bit over even and if PWE continue to rise I''ll be well into the green. I really don't like tar sands these days and if this ever reaches ac ompelling price I'll drop this and never look back. .
Regardless.... PWE continues to set new lows even though the price of O/G is slightly up. I will continue to hold a little bit of this, but there really has to be something fundamentally wrong with this stock for this sort of dramatic decline slide that exceeds all others.
Interesting to note that the last 9 "Headlines" on the Yahoo page for PWE are all from "The Street" with pretty much the exact same analysis and comment. I don't have any other O/Gs (that have been suffering) that get this same, basically thoughtless mention. Wonder why the Canadian play gets so much attention from those folks?
actually thanks to both of you for posting some insightful opinions. too often these boards get cluttered up with personal attacks and "experts" who only wan to spout their opinions with no basis of reality. So again...thanks to both.
Interesting to note that RSO hit a 52 week low, but I'd still think a good investment for the long term.
Please do. You have such a dreadful history of spreading lies, rumors and gossip that pretty much anything you put out is suspect.
Really.... sub four from BEFORE the reverse split? RAS has been a major dud since Betsy Cohen looted the place on her way out...still is...never has really recovered.