Rock Energy (RE-TSX) is one of the few oil-weighted juniors on the TSX (60% oil). Most of it is heavy oil, which gets a discount to regular crude in world markets. But that discount has narrowed dramatically as production cutbacks around the world have reduced supply.
While they do have debt, their wells are low cost and very profitable. Look for a more full report next week, but today I bought 10000 shares at an average cost of $1.18.
You should buy stocks on down days patiently, and not buy stocks on the last day of the week. But today we broke those rules. Sometimes you have to do that!
More on Rock on Tuesday.
