Profit up 73%, EPS up 76% mainly due to oil price rise trigger a huge return in its upstream business (even it makes downstream business fall). Its Edmonton's refinery plant will start up in 4q08, but cost expenditure may rise more than expect, also, its Fort Hill oil sand project will cost a lot more than expect, therefore, Petro Canada has decided to fall back and re-visit the growing plan.
Once again,CA$60 is my target value and i did not plan to change.
11.04.2008
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