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Jonathan is still not done with his portfolio review. That will be sometime late this summer. Until then, impossible to consider buying back debt for less than 50 cents on the dollar, nor shares at a fraction of NAV. ::) Dumbdee what the proper title for this thread. I really don't know how these childrens can possibly look at themselves in the mirror. Cardboard

My view is that natural gas produced on the East coast should be all sold locally. It sells for a big premium to AECO in Alberta. So the economics of LNG on the East coast, then exporting to Europe, cannot be that great considering how much hesitation there has been on the West coast (and still is since not approved yet and multiple projects cancelled) while they have access to vast and cheap resources ready to go in the Montney. Quebec is also not a go yet in terms of developing its resources and overall I believe that reserves are small relative to the Montney or Marcellus. Cardboard

http://business.financialpost.com/commodities/energy/malaysias-petronas-to-purchase-equity-stake-in-lng-canada-project Seems to be moving ahead. Considering what is going on South of the border, it is crazy in my opinion for Canadians to remain entirely dependent on the U.S. Beggars can't be choosers and we are getting a good taste of what that means. Oh, and by the way, it is not just some Republicans in Congress who like steel and aluminum tariffs but, also a fair bit of Democrats! Cardboard

That new CEO will finish his review of the portfolio this summer and then will take action... Seriously, how much analysis do you need to figure out that buying your debt at 46 cents on the dollar is a good deal? Cardboard

North or South? LOL! Lovely area by the way! Cardboard

Hi Ericopoly! I will start by saying that I miss your time here! You have been mostly away for what? 4 or 5 years!!! In terms of you being a full time investor, trader, etc. This is totally false per everything that I have read over the years. I recall that you made 4 large investments: Fairfax, Odyssey Re, Bank of America and MBIA over a period stretching since 2006. How could that be considered using all of your time? I also recall that your wife was very pleased with some of the gains that you made for her with MBIA. That post should be retrievable. More importantly, that money is real and should have appeared in her account. Did she complain then? I recall that you left your employment at Microsoft after putting a good portion of your savings into Fairfax calls in 2006 and obtaining an extraordinary return. Almost like a lottery win. And yes, you mentioned multiple times that you used others research to make your investments, you "retired" again by having others manage a significant portion of your funds many years ago and yes you mentioned that you wanted to enjoy life, spend time with your family, get your knee (or knees fixed) since 2006. Like others said, and I would add, trading records, credit card records, memberships, affidavits/witnesses of where you were, what you did with your kids, could go a long way in proving what you were up to. And please, please hire yourself a top lawyer! In any case, PM me if you need my help. Cardboard

T-CVE calls Oct $12 CAD strike. Stock itself is a great buy but, I am low on cash :o Great CEO who gets it. Fundamentals in their favour. Very undervalued on absolute basis and to its peers such as CNRL: price per flowing, vs cash flow, vs reserves. Prime destination for U.S. investors wanting to invest in Canadian energy rebound (listed on NYSE + liquid). Former management paid too high of a price, at the time, for Conoco assets but, at these prices it is really worth it. Christina Lake is a pearl with best in class steam to oil ratio of 1.8 times. Hedges entered at the time are also rolling off so cash flow will really take off in H2. Combined with a few small asset sales, debt concerns will go away. Cardboard

Lol! The BC Liberal Party is center-left, then you have far-left NDP, then the extremists Green. There is no right in B.C. and they have something similar in Quebec. It is not because you allow capitalism and some free market, that you try to balance a budget, that you qualify as conservative or realizing that the smallest the government and its influence the better. Cardboard

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aTA-2610937&symbol=TA&region=C This has to be one of the stupidiest proposal I have ever seen. I am actually not that suprised to see Dawn Farrell associated to this or someone who has overseen one of the greatest shareholder value destruction in Canadian history. What about LGBT? I mean Tim Cook is gay so Apple should deserve a big tax break for that. Higher tax prior since Job wasn't. What about Natives? We are at a point where inclusion now means discrimination against other groups. Cardboard

http://www.thisismoney.co.uk/wires/reuters/article-5738147/Canada-gas-pipeline-build-start-2019-pending-LNG-plant-FID.html Recent job fair in Calgary by Shell, multiple positive public statements, opposition by Weaver but not, Horgan. I actually think that Weaver should be arrested, detained and interrogated to see how much money he and his party have received from foreign interests. Then prosecuted. Then power should be given back to its rightful owner or Mr. Wilkinson. Cardboard

If Putin had to deal with such problem in his own country, he would have sent the army. Cardboard

http://calgaryherald.com/news/ready-and-prepared-to-turn-off-the-taps-notley-issues-stark-warning-to-b-c-as-pipeline-fight-escalates/wcm/d97e364a-1d1f-4d9a-855f-2610d0eca836 Cardboard

"I think their coffee is usually pretty terrible." I see a big difference between Canada and U.S. (at least Southern). Canadian Mc Cafe is pretty good IMO. Cardboard

Exactly! Withhold for all nominees! Explore strategic alternatives! "A lot of people die fighting tyranny. The least I can do is vote against it." Carl Icahn Cardboard

I do, if people get together and push. Only takes 5% of shares outstanding in Alberta to call for a special meeting of shareholders. When people are ready to go that route with extra support, a company of that size has to take it seriously due to costs. Listening to the call, it is obvious that the decision to enter oil based mud business in the Permian was a poor decision. Margins ended up being sub 5%. So they quickly decided to shut it down from warehouses that opened only a year ago. Even if they had invested more heavily to support it and rapid growth from customers, margins would have been 7-8% vs their traditional 15-20% business. Who made the math on this before moving in? Obvious that margins would have remained low even in a best case scenario. They mentioned that it required a lot of cash flow/inventory to support while they just came out from a near death experience and cash remains tight... The good news is that there is no lease break-up fee. Costs will be some tanks clean up cost, liquidating existing inventory and some already happened since customers bought at a lower price vs them moving it to another warehouse and paying freight. Canada has been poor for all services companies due to AECO pricing, pipeline restrictions and weather: rapid start of spring break-up and now longer than normal spring break-up! So it seems that the business will normalize this summer. Although, losing Q1 profitability is not good and if it had not been for the poor decision to go after a low margin business in Texas, Q1 would have been weak due to Canada but, that is it. Cardboard

Bri-Chem needs to be sold. There is value on the balance sheet: net-net working capital of $0.63/share, book value of $1.21/share with most current assets and no goodwill. There is also value in a distributor of essential products (mud/chemicals) to drill. If you remove current overhead, filing costs, etc. related to being a public company, which is stupid at this market cap, it would have been profitable this quarter even after being quite disastrous. Caron had his chance for many years to make this work and he failed. And the CFO does not own, nor never buys any share. Kind of guy that I can't trust. Time to let them packing! Cardboard

I am a little over 50% into the stock but, totally agree with you Lessthaniv. Let's hope that this Goodman or Jonathan finally wakes up sometime this summer when he is done with his portfolio review and does something constructive. Oh, and I had to hold myself yesterday not to call in and to tell Lucie to go FU in her retirement and hoping to never hear from her again! Cardboard

Beating the market? LOL! Cardboard

"There are two other factors: 1) The rolling efficiency. Stop by a rail museum sometime and examine a train wheel on a track. For how large the wheel is the contact area is about the size of a dime. And it's steel on steel. It doesn't take much to roll. Now compare that to the giant rubber tires on a truck, that travel on cement or asphalt roads full of bumps. 2) Trains are already employing diesel-electric engines, they have been for decades. The engine is a diesel powerplant (essentially a large generator) that powers electric motors that turn the wheels. The driving is done with electricity. This is much more efficient than the trucks we have. Beyond this railroads are investigating how to employ hybrid engines to further reduce energy costs. And not that long ago much of the railroad was electrified." Very true. Plus, a train has a few engines and a very large number of wagons (50:1?). They have tried 3 trailers behind a truck and it was banned due to becoming highly unstable: wind, turns, etc. Whether it drives on its own or not, this issue does not go away. Cardboard

Obviously arguing with you Liberty is and will be a waste of time unfortunately. Catalytic converters, smoke detectors and other examples you provided do provide immediate and visible benefits to human health and safety while at home solar panels do not. Regarding solar panels in a sunny state, I would definitely look at them to see if there was a cost advantage for me to produce my own power vs buying from a utility. I find very odd the need to mandate such thing if it is so obvious for people to go that route based on what you mentioned. You also mentioned that power is expensive in California. Why? Isn't the sun shining as much at the utility plant vs at home? If it is so good, you would think that developers would rush to build solar power plants, use economy of scale and deliver that power at an attractive price point to consumers. So instead of forcing home owners to purchase and develop their own power system. Is there not something else going on here? Are they going to mandate people to grow their own vegetables also? Cardboard

California does bring innovation but, it all comes from the private sector and not from the dictatorship in Sacramento. If solar panels make sense, people will adopt them as cost savings. No need to impose them. When that is done, it is typically some kind of corruption or abuse. I would think that this will end up in front of the Supreme Court and be taken down. It infringes on individual rights and choices while not doing anything for their safety or otherwise. On safety, and CO2 if you want, the government over there should focus instead on bush fire prevention, better means to extinguish them or control and not giving constuction permits to build houses into forested areas. Obviously, common sense is something that many lack over there especially those in power. Cardboard

Rail will always have the advantage in terms of cost per mile due to physics. Cardboard

I have been buying the preferreds "B". Amazing value and they would have to screw up in a crazy way to impair these. And even if partially impaired, they are at $11.40 vs par of $25... Cardboard

I am not sure that I understand the drop in MHY.UN related to this announcement. Marret Resources owns 15.1% of Cline while it is just over 50% for MHY.UN. Marret Resouces plans to sell its 15.1% stake in Cline and to distribute proceeds to its shareholders. If they sell it for nothing then yes, it would look really bad for MHY.UN. However, there is no indication of what will be realized. So what has changed really regarding how much this met coal mine in Colorado and iron ore mine in Madagascar are worth? Cardboard

https://www.cnbc.com/2018/04/18/former-google-x-senior-executive-mo-gawdat-on-future-tehcnology.html Forget about that. Humans are not a specie that will allow to be dominated by someone or something else. That is in our survival genes. Skynet is coming guys and much quicker than thought. Cardboard