I could respond with the same reply. I should have bought more at 8.50! Still soaring....+2.50 to US$18.75
I could have made a lot more on the cheaper TarSands plays like CLL or Cwpc but this one had nice conventional production and I liked the Thai angle in addition to signficant tarsands acreage in both Canada and Columbia. Safer way to play it with multiple chances for success.
I think the big pop is due to some rumors of a possible buyout. THAI isn't proven yet and Columbia isn't a successful spinoff yet so there is speculation in this stock. BUT if THAI works and they get 10% of gross production as a fee for increasing yield and not having to use ngas and water, then this could be a gigantic cash machine in the future. I can see the mold growing on my shares now.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.