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E. Hunter

 
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  • Canadian Oil Sands: Getting The Facts Straight [View article]
    COS reports their revenues and costs per barrel every quarter. See page 8 of their Q3 report for the breakdown:

    http://bit.ly/1fClTjn

    In Q3, COS operating costs/barrel were $46.15. Total cost per barrel were $80.89. With an average selling price of $112.52/barrel, COS made $31.63/barrel in Q3.
    Jan 16 01:51 PM | 3 Likes Like |Link to Comment
  • Why Dividend Growth Investors View Stocks Differently [View article]
    Excellent article. I particularly liked the section on CNBC. In business school and early in my career I thought CNBC was pretty cool, over time I discovered they focused too much on price movement, paying little attention to the underlying business. I now find little value in watching CNBC (or BNN here in Canada).

    Do you supplement your dividend income by selling call options against your securities?
    May 8 10:05 PM | 2 Likes Like |Link to Comment
  • Canadian Oil Sands Is Undervalued [View article]
    I like Suncor, many feel they are safer than a company like COS because they are integrated (upstream, midstream and downstream), that is they find oil, refine it, and sell the refined product. At a PE of 10 they are cheap right now, although their dividend is small.

    I hope KMP is able to expand their TransMountain Pipeline, as a Canadian I think diversifying our customer base for our natural resources is a good thing. I'm a little bit bearish on pipelines right now as they are very popular. The PE ratio's on pipelines are very high, KMP is currently trading for 150 times earnings. For that reason I'm not interested in KMP.
    May 8 05:20 PM | Likes Like |Link to Comment
  • 2 Railways On Diverging Tracks [View article]
    Thanks for your response, I agree with your points raised.
    May 7 07:22 PM | 1 Like Like |Link to Comment
  • 2 Railways On Diverging Tracks [View article]
    Wow, thanks for your detailed response.
    May 7 07:21 PM | 3 Likes Like |Link to Comment
  • 2 Railways On Diverging Tracks [View article]
    What do you mean I do not have the story right? What did I mention that was not factually correct? The information on Prince Rupert was omitted, not incorrect.

    I can't focus on every aspect of the business. There are several cities in Canada that are serviced by only one of CP or CN. I did not find it material to discuss that in detail. I only attempted to illustrate that CNI's tracks reach further than CP's.

    The focus of my article was on the differences between the two railroads, as well as a comparison of their financial performance. As a CA, that is where my strengths lie and where I can provide value to my readers.

    Can you clarify your sentence:

    "The is not one container that goes west that is Ever employ."

    What does that even mean?

    Suggesting my report is not correct because I omitted certain aspects is simply erroneous. If you feel CP is a better railroad that is fine, however based on my analysis of their respective financial statements CNI is generating better results at a cheaper valuation.
    May 7 04:24 PM | 12 Likes Like |Link to Comment
  • 2 Railways On Diverging Tracks [View article]
    What did I forget about Prince Rupert?
    May 7 02:15 PM | 1 Like Like |Link to Comment
  • Canadian Oil Sands Is Undervalued [View article]
    PBN and CPG both have capital programs in excess of the cash flows generated by operations. While COS funds it's dividend through operating cash flows, PBN resorts to debt and asset sales to fund their dividend, and CPG often issues equity.

    I'm contemplating writing an article comparing CPG and PBN. COS remains my top energy pick.

    Note - I am long PBN
    May 4 08:52 AM | 2 Likes Like |Link to Comment
  • Canadian Oil Sands Is Undervalued [View article]
    Being an oil sands producer their operating costs are high. I've below compared their opex/boe to Canadian light oil producers Petrobakken and Crecent Point:

    COS -$38
    PBN - $10.97
    CPG - $11.67

    All information obtained from the respective companies 2011 year-end MD&A.
    Apr 29 08:48 AM | 2 Likes Like |Link to Comment
  • Making A Case For Special Dividends [View article]
    Thanks for your comments.

    I imagine the large cash amount on the balance sheet exists in part to fund the major plant turnaround this fall, the distributions will be adjusted to ensure enough cash is on hand to cover the turnaround plus any contingencies.

    I'm located in Regina.
    Apr 27 01:39 PM | Likes Like |Link to Comment
  • Canadian Oil Sands Is Undervalued [View article]
    Thanks!

    I see on your profile that you have discussed TNH in the past, I submitted an article on TNH earlier this evening, hoping it gets published in the next couple of days.
    Apr 26 01:03 AM | Likes Like |Link to Comment
  • Canadian Oil Sands: A Stable 6% Yielder With Plenty Of Upside [View article]
    Excellent article.

    One clarification point I have from a couple of the comments is the discount on heavy Canadian crude. COSWF.PK upgrades their oil to synthetic, thereby avoiding the Canadian heavy crude discount. Because of the markets they sell their oil in, their realized selling price is often higher than WTI, but still less than Brent.

    Refer to page 34 of the 2011 MD&A, in Q4 of 2011 COSWF.PK realized $104.78/bbl (CAD) vs average WTI of $94.06/bbl (USD). The average USD/CAD exchange rate for the period was 0.98.

    Please view my profile for my analysis of COSWF.PK
    Apr 25 08:01 PM | 1 Like Like |Link to Comment
  • Canadian Oil Sands Is Undervalued [View article]
    Thanks for the comment.

    I'm not familiar with the pink sheets and any liquidity/value differences they would have from buying directly on the exchange. As a Canadian citizen, I bought my shares directly from the TSX. Seeking Alpha only lets you link to American tickers, therefore I had to link to the US pink sheets.

    Sorry I couldn't be more help.
    Apr 25 07:49 PM | Likes Like |Link to Comment
COMMENTS STATS
13 Comments
27 Likes