Overall, there never has been much proper direction at all.
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Cenovus is mostly oil sands and I don't see oil sands to be economical until oil price reaches high $70s
Agreed. But if one notices the share price of ECA and CVE, they are in lock step with each other. Perhaps the purchase of Cenovus would have been better.
Timing of these deals was far from perfect but without Oil plays that we have now there would be no Encana when gas is below $2.