Q: Hi 5i Team - I have held Tourmaline for several years and although the dividend payouts have been good, the capital appreciation part has not. I am thinking of switching to CNQ, either partially or completely. Could you provide your thoughts on this strategy. Thanks.
5i Research Answer:
We like both, but this is essentially a natural gas (TOU) vs oil (CNQ) call, as they have different production profiles. CNQ is larger and we would be fine with such a move if an investor only wanted one, and believed more in oil rather than gas. We would like to see some diversification in the sector overall, however. But if only one stock is to be owned we would be fine with CNQ.