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  1. #21
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    I'm not sure if everyone realizes this, the more we are with the "disposable" consumer mentality, the need/reliance on petroleum products still exist. All plastics are derived from oil/gas. Many chemicals as well as consumer products also are derived from oil/gas.

    The roads are paved with asphalt, which again is a by-product of the refining process. The interim "clean" form of power generation next to Nuclear is Natural Gas, so there'll still be a demand for that.

    With all this hoopla on how bad O&G is, people don't seem to realize that the electric vehicles they're buying is many times more toxic to the environment as a whole than a petroleum powered vehicle. (inclusive of origin material and post use recycling).

    PV is not to the point where it's feasible on wide-scale replacement of other forms of renewables. In fact, PV is negatively affecting the markets for electricity, as there's an over-supply when the demand is naturally relatively low, and does not add to the grid when electricity is really required.

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    Quote Originally Posted by RedDawn View Post
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    With the lowest cost of extraction, Saudi Arabia will be able to meet whatever meager demand remains for non-transit purposes. 70% of oil demand is for transit and the decline to 0% has already begun. No economic feasibility for Cenovus's expensive SAGD techniques anymore. Calgary had our time and the party is over.
    People like you in the 70s thought we'd be driving flying cars and living on the moon by now. People like you in the 80s thought we wouldn't have any trees on the planet by the year 2000 and we'd have robot servants by now. People like you in the 90s thought we'd be having wars over drinking water and new york would be under water by now. I think in 20 years we can add to that and say People like you in the 10s thought we'd be all driving electric cars and there'd be no need for oil by 2030.

    THe world is progressing fast, but isn't changing as fast as you think.

  3. #23
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    Quote Originally Posted by mazdavirgin View Post
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    Frankly it's really dumb of the employees not to periodically be selling out of their stock position. I've been in the same situation in the past and I would sell off every 6 months or so and reinvest in ETF's in order to limit exposure. Straight up bananas to allow your RRSP to remain invested in the shares of a single company.

    It only happened at the start of this year and Im pretty sure that my wife did not realize this. Before that it had been a match of shares of her choosing as per the fund plans provided. Smart move to save cash by Cenovus imho. Anyway regardless of that.

    Looking at this http://www.cenovus.com/invest/docs/corporate-update.pdf

    The operating costs per bbl for conventional are between 15 - 17$ and the operating costs for SAGD are between 8 - 12$ - how is conventional so much more - I thought once drilled and in place it was basically set and forget.

  4. #24
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    Quote Originally Posted by mazdavirgin View Post
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    Frankly it's really dumb of the employees not to periodically be selling out of their stock position. I've been in the same situation in the past and I would sell off every 6 months or so and reinvest in ETF's in order to limit exposure. Straight up bananas to allow your RRSP to remain invested in the shares of a single company.
    Couldn't agree more. Dumping your employer's shares every 6 months to a year is smart. That's regardless of price, how the shares are performing, and whether you're up or down.

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    You know what is the best? Being blacked out / trade restricted for 18 months straight and watching your retirement account lose 90%



    Never own your own company... Never again.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  6. #26
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    Quote Originally Posted by killramos View Post
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    You know what is the best? Being blacked out / trade restricted for 18 months straight and watching your retirement account lose 90%



    Never own your own company... Never again.
    Well, unless you work for MS or Google or Apple.....

  7. #27
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    Quote Originally Posted by killramos View Post
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    You know what is the best? Being blacked out / trade restricted for 18 months straight and watching your retirement account lose 90%

    how is that possible for 18 months? never heard of that before. details?


    Quote Originally Posted by killramos View Post
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    Never own your own company... Never again.
    agreed lol. Been there done that... All your eggs is one basket is great when its going good, but one recession or turn of a trend can wipe you out.

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    Between company blackouts from earnings releases, prospectuses in market, and and being on deal teams on confidential projects ( not common knowledge within office / lock your door at the end of each day type work such as A&D ) it isn't even that much of a stretch.

    We bought a big asset right before things crashed which took a few months to close, then started pursuing alternate financing strategies that blacked us out, that fell through ( another blackout ), put the company up for sale etc etc.

    Price you pay for high involvement I guess, good times.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  9. #29
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    Cenovus bought husky this morning
    https://www.google.ca/amp/s/financia...58535ab98/amp/

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    fairdinkum mate. It appears a $5B company paid $23B for a $4B company judging by the headlines.

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    Quote Originally Posted by The_Rural_Juror View Post
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    fairdinkum mate. It appears a $5B company paid $23B for a $4B company judging by the headlines.
    .
    Last edited by S-FLY; 10-25-2020 at 11:07 AM.

  12. #32
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    The headlines are hilariously confusing about the size of the deal. This mentions 23 and 3 billion.
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    Last edited by ExtraSlow; 10-25-2020 at 11:12 AM.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  13. #33
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    So 4 Billion for the company and 20 B in debt. I wonder what total debt cenovus now has and how much of that comes due this year and next year. I don’t think they are going to showing a positive quarter for some time.

  14. #34
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    So what's the impact of this on the front lines? I'd like to hear from anyone who works for either company as to what their thoughts are on this.
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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    Quote Originally Posted by Masked Bandit View Post
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    So what's the impact of this on the front lines? I'd like to hear from anyone who works for either company as to what their thoughts are on this.
    *hint* not good things

    Two Giant overstaffed companies, and a deal quoting lots of synergies. The calculus isn’t hard.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  16. #36
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    Lots of talk on thelayoff.com

    https://www.thelayoff.com/cenovus-energy

    Cenovus had a Corp communication saying they were expecting 20-25% layoffs from the deal from that layoff website.

    https://www.cenovus.com/invest/docs/...ate-update.pdf

    Free funds flow WTI
    break-even of
    US$36/bbl in 2021
    Seems high not much room to breathe if the market goes down again.
    Last edited by nzwasp; 10-25-2020 at 11:42 AM.

  17. #37
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    Quote Originally Posted by Masked Bandit View Post
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    So what's the impact of this on the front lines? I'd like to hear from anyone who works for either company as to what their thoughts are on this.
    One guy over there I know is listening to the conference call now and his only comment so far is "this will be a bloodbath for corporate and overhead staff". So if you aren't directly attached to an asset, I'd say you have a better than 50% chance of a layoff. Before spring.

    Probably 25% if you Are attached to an asset
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  18. #38
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    Paying for debt is an edgy concept that I saw in the advanced Econ201 cirriculum that I didn't qualify for, therefore I resume speaking out of my anus.

    According to the Husky 2Q sheets for the balancing. $29.5B in Assets - $14B of Liabilities = 15.5B of stonkholders equality.
    $14B of liabilities at the end of June, and stated $20B of debt in the acquisition means that HSE has been adding $1.5B of debt per month? Surely this is Marth. Or Prime Chairman Li is teh genius!

    Edit: News journalist obviously not a stonk broker. Numbers all wrong.

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    Last edited by The_Rural_Juror; 10-25-2020 at 06:09 PM.

  19. #39
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    Quote Originally Posted by ExtraSlow View Post
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    One guy over there I know is listening to the conference call now and his only comment so far is "this will be a bloodbath for corporate and overhead staff". So if you aren't directly attached to an asset, I'd say you have a better than 50% chance of a layoff. Before spring.

    Probably 25% if you Are attached to an asset
    They are saying $400M open savings upon consolidation. Translate that to number of jobs at whatever salary you like. Goodbye, real estate.

  20. #40
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    $100M to rebrand to a dumber name. Book it. E5.


    Edit: I hurted someone's feelings. I am sorry so sowwy.
    Last edited by The_Rural_Juror; 10-25-2020 at 08:32 PM.

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