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$Colombia and Latin America
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Re: PXT,TAL ath , positions now?krall, In order of portfolio weighting: Vermilion Energy (ng) Parex Resources Canacol Energy (ng) Frontera Energy Cenovus Pembina Pipelines (pipes) Gran Tierra Energy* ARC Resources (ng) Enbridge (pipes) Yangarra Resources* (ng) Touchstone Exploration i3 Energy* (ng) Sintana Energy* PetroTal Eco (Atlantic) * These names are slated to be sold down. ng = natural gas weighted I know that pipelines are not at all similar to E&Ps but there they are. 6+ per cent yields. --------------------------------- A comment about oil prices. Oil looked great last late October, early November 2020 but I never imagined Brent would go north of US$60/bbl as the global economy recovered from the pandemic. Here we are 50% higher, just north of $90/bbl. In 2020 I did not see the structural supply deficit that would become more apparent as 2021 evolved. Nor did I see the US Federal Reserve purchasing mortgage-backed bonds late into 2021 as the economy was quickly recovering, and after it was clear as daylight in early 2021 that US households were swimming in cash. I will take a Vietnam War-style support for high oil prices from the the United Socialist States of America any time. Now my concern is that oil goes north of $100/bbl. If it does, it is just a question of a short period of time before oil prices reverse and decline steeply. |
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