(click to enlarge)
There it is, the chart that is like a bad dream. That is the resource company laden S&P/TSX Venture Composite Index and it is down in two years from 2,000 to 860 today.
Stock prices of the vast majority of Canadian oil and gas producers (especially the small ones) sadly look very similar to that of the Venture index.
Personally, I think that with current oil and gas prices these companies are extremely undervalued.
Today Whitecap Resources (OTC:SPGYF) bought some assets in Alberta that I again think shows that some of these energy producers in Canada are pretty dramatically undervalued.
Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX:WCP) is pleased to announce that it has...
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