You ignore the number one rule of trading: the S/P is always right, as is the market always right. Our reserves are only worth what someone is willing to pay for them. Economics 101. My guess to make a bid is PetroChina, just a strict guess, however.

Another prediction, TOTAL partners with Suncor on the Voyageur Upgrader in tandem with the current partnership in the Fort Hills project, just a hunch ;).

At any rate, I'll take the cash at $3.50 and buy some more BP.