Amazing reversal.

On December 14, 2012 WTI was ~$87, and today it is ~$97.

On December 14, 2012 Western Canada Select was $42.50 below WTI. Today it is at a $26.50 discount.

That's about $26 more to PXL, per barrel, given the WTI price increase and the smaller differential, and PXL is also about to ship 1,000 barrels, per day, by rail.

Despite all of this December 14, 2012 PXL was $.63, and today it closed at $.60.


Hopefully PXL closes an acquisition quick before property prices climb again. Also, it could fund a substantial increase in its budget with cashflow alone at current prices and leave its debt level untouched. It must be making high $30's per barrel now. If only it stayed that way! Hopefully if this stabilizes and looks to continue PXL could announce an increase in its budget before mid-year.