Six Five do not know much about FTO, but it seems like a decent company, actually starting to look at some of these more closely.
maybe the refining side will hold them back a little in the short term. low 25.47 high 49.10 close 45.71.
as the US dollar continues to drift down that is only good for oil, and other resources.
like the fact that FTO has started a q. div. they should in the future increase this as cash flow should do well.
Suncor. I own a positon in this stock through DRIP/SPP back when oil was below 20 and someday who knows it could hit 40...lol
SU has a premium valuation, and probably deserves it, they have reserves for 40 years, never did understand why they were not taken over. still they are growing production and earings come in this year around 5 and next year closer to 6.
Alberta plans to raise its royalty structure, this should not effect Suncor or cdn. oil sands, in a perfect world.
they signed agreements with the government of Alberta until 2016 since they were doing this work when oil was in the single digits, their work and invesmtent help the boom that has come recently.
however the alberta governent does not care, and if Suncor or cdn. oil sand (Snycrude) do not play ball, they have stated that they could raise other taxes.
by the way governments all around the world want more.... anyways Alberta does need and probably should get more money from royalties...still believe they went around this the wrong way, and they may not get the extra 2 billion a year they are expecting....time will tell.
oil companies can drill in other places, well some can.
still Suncor will still be very profitable, and would still Alberta will be on of the better places to have an energy play.....
just ask Gulf about Russia, or Exxon about Venz., ect.
oil is strong and Suncor should also follow....may look to sell some or trim the positons of these stocks....
but would probably wait to see how winter plays out....if you get a weak US dollar, and cold winter, you would not want to sell these stocks or trim positons for at least a few months.
I own NXY, SU, ECA, TLM, PCA, CNQ, and OIL, and a few jrs.
have covered calls on half of my posiiton so if oil keeps climbing may have a larger cash position than normal :shrug:
thanks
selkirk
