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Dan Dicker

Dan Dicker

Dan Dicker is a 25 year veteran of the New York Mercantile Exchange where he traded crude oil, natural gas, unleaded gasoline and heating oil…

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An Obvious Play in Canada’s Torquay region

It has been the continued strength of the crude oil market, through the very bearish (and wrong) predictions of most of the major wirehouse analysts that has informed most of my E+P plays over the last 2 years and made us so much money.  But with most of the gains in the US E+P stocks already booked in my view, but with a continued belief in high and sticky crude oil prices, I’ve searched high and low for new opportunities, and I think I’ve found a small one: In Canadian oil.  

I’ve talked around the Canadian producers in several columns over the last 6 months, believing that the underlying strength in Canadian names would come from the continued development and production in the oil sands of the Athabasca.  With a continued intransigence on the part of the White House to approve the Keystone pipeline (a move I had thought they’d be forced into by now), those Canadian tar sands plays have been waiting for infrastructure build-outs to release their potential value.  I’m not walking away from long-term recommendations like Cenovus (CVE)  -a ‘leader’ in very old-school technology of oil sands extraction, but the really great money on CVE is still probably more than a year away.  Perhaps the latest TransCanada (TRP) proposal on an Eastern pipe (Energy East) will be the key catalyst they need.  

But another obvious play has started to pique my interest and I’ve begun accumulating Canadian…




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