Myth465

Its a strange situation. The Juniors have been massacred, the majors killed. Great value and once in 3-4 years ops, but most are sitting down 50%. I was fairly overwieght oil. I have sold service companies which were down 10%. Now I can buy more Manitok or wait. I think the shares I have will recover, but you can make real money buying today. Entrice is looking great, they may produce more from it in 2 years than Stolberg. Stolberg is back on line. I will listen to the call and think about it over the weekend. They have upside in Stolberg, and tremendous running room in Entrice. They can even pick up the other acreage from PS / Encana Spin CO. Lots of good options and good hedges and 50 / 50 nat gas production to help with the dip in oil. The real question is - is it a dip? Interesting. times....

Manitok announced very good results inmo. Currently down quite a bit but I still really like the company. Will review Manitok and PWE over the weekend. http://www.manitokenergy.com/files/file/manitok-corporate-presentation-2014-11-12-v005-final.pdf

More buyers in the US. US capital likes US securities. I have followed oil and gas for 4 years, and didnt realize how cheap Canada was. You can get securities for 2-4x cf in Canada with debt to cash flow less than 1.5 times. You can get yields of 6% which are sustainable. Good market. US investors were just coming back and now we have almost a repeat of 2008 from a decline perspective in O&G. Good time to buy, if you werent already overweight... I was a bit overweight...

I would probably buy Legacy Oil and Gas. Was a top pick on Market call. At less than 3 x cash flow. Plus no other issues now that it is delevered. It will recover quicker than LTS, PWE, and Manitok which all have a few fleas. At this point everything is cheap in the sector...,

i've been trying to move away from resource stocks (a fondness for which is a weakness of mine), but i hold probably more than i should now and will be buying more if prices stay down long enough for me to accumulate cash. We have the same problem, was wondering if I was the only one.

IM in fully. Added to PWE. Think we will see a good asset sell soon, its tough, but the fundamentals for the sector are quite good. My only fear is options. Down to 2016. I have 20% of my port in MEI and am quite comfortable despite the setbacks.

Aw first world problems.... I just cant find the right meme for this one. You are doing pretty well if you are pondering this question in the morning while drinking coffee in the morning. (I am included, I was trying to work out the answer when I read the question for a while then thought about how unnatural it is for most of the world).

I always like watching you argue this point.

I have always liked Ritholtz. Listened to the Gundlach one. Its very entertaining.

That is a funny but cheap shot. Funny though. ;D

I dont know. Mr Market is funny. Could see up to 10% or 2%. I think they are getting all the bad news out, and are killing it operationally. Lots to love in that report, but the details get lost with news like this. Oil companies tend to trade on cash flow metrics. Personally the numbers dont matter much. The issue is PWE will be in the dog house for 4 quarters longer. Canada is filled with great ideas. The leaps give you good leverage on a turn, but why bother is what most analyst will say. I cant blame them, they cant recommend the idea with leaps and its not so attractive without them.

Would have preferred a billion dollar plus asset sale, but you dont always get what you want. Operationally the results were excellent. I think this is largely noise, but wise they put a bit more color behind it. The release is quite vague and Mr. Market will run with it inmo.

+1 Made good money in ROIC (4 x or so) and hoping to do ok in Extendicare, but imno this pay is over done. These assets dont deserve a 20x yield...

Be honest - You are the old guy yelling get off my lawn, back in my day ..... JK. I remember our posts back in 2010 / 2011. Amazing we still are at this point. Also really good point on everyone wanted a pullback. I watch BNN Market Call and I hear it in every other call. People are hyper aware of 2008-2009 and looking for the next fall.

I was reading this on my phone, and thought it was a very asute analogy. Was really wondering who posted it, now it all makes sense. ....