I bought 2500 shares of Palliser Oil & Gas (TSXV:PXL) at $0.68 in my HELOC account.
This brings my total holdings to 5000 shares at an average price of $0.67.
Stock Trade Commentary
I find PXL extremely undervalued at this price. Enbridges pipeline reopened after the Michigan spill yesterday and the heavy oil differential in price has been narrowing again. PXL is on track to exit the year based on their guidance of about 1200 boe/d. By mid October we will be getting a detailed operations update which should confirm my perception.
What bothers me right now is never having enough money to be in every opportunity I spot. My HELOC portfolio has ballooned and I will be looking at lighten up. I hope to lock in some profits though before I take any steps of this kind. ??The price of oil has been strong around $76. Anything over $70 makes good money for the oil producers.
WestFire Energy (TSE:WFE) is gaining momentum. I believe herd money is taking positions for the upcoming operational update. In WFEs case also, there is nothing wrong with fundamentals and as long as the markets dont dip on significant fears the stock price will do fine for both PXL and WFE!
Do you think the market will give back in October what it gained in September?
