Imperial Oil Limited (USA) (AMEX:IMO)
The company's principal business is energy, involving the exploration, production, transportation and sale of crude oil and natural gas and the manufacture, transportation and sale of petroleum products.
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Part of Syncrude Canada Ltd.- the world’s biggest producer of crude oil from oil sands.
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The Exxon of Canada. Will do good on its own or will get boughten out at a premium.
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This company is one of the least strong companies for engaging in oil, but the reports say its going to be strong. now im no dummy, but this one ill see and invest a little in. but for now, ill take my chances and gamble on it.
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Imperial Oil has strong earnings.
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Target price in my opinion would be about $43. A conservative buy at $37 or $38 may well enhance one's portfolio.
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IMO owns 25% of the Syncrude consortium, which extracts oil from the Athabasca Tar Sands deposit. This is the largest petroleum resource in the world, containing 1.6 trillion bbls, of which 315 billion bbls are recoverable with current technology. Syncrude capacity is 238,000 bbls per day, increasing to 335,000 in 2006 with added mines and improved tehnology. Higher oil prices make the extraction process more economical. IMO also owns conventional wells.
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An oil company...and oil is going to get scarcer and scarcer. Oil is the product that USA, China, Europe, India are going to be squabbling over. Price of oil keeps going up.
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Oil temp down below $60 and all of a sudden people think this stock isn't worth anything! Give it time and this one will pay off huge.
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Although Oil is down today, any happening in the next 12 months will cause it to rise again. War, terrorism, hurricanes, etc. will have an effect on the price of Oil. I cannot believe that the world will suddently turn peaceful, that the Islamo-fascists will stop muslim terrorists or that the weather in the Caribbean will be different this year from other years.
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70% owned by Exxon but actually has production growth. XOM is at 9x eps because theres not been any production growth for years. SOmeone will acquire IMO if XOM doesn't
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