The Successful Investor, in the October, 2015, issue, refreshes its buy of Imperial Oil Ltd., recently $43. The Investor said buy 27 times from February, 1997, to June, 2015, at prices ranging from $29 to $87 (the stock split 3 for 1 on May 12, 1998, and again on May 17, 2006). Assuming a $1,000 investment for each of the 27 buys, the $27,000 position is now worth $54,266. Imperial owns (among other assets) one-quarter of the Syncrude oil sands project in Alberta. In the second quarter of 2015, this project contributed 15.1 per cent of the company's average production of 344,000 barrels a day. More recently, it has been operating at minimal capacity as a result of a fire. The Investor is not worried. Normal operations should resume around the end of September, and in the meantime, the shutdown has pushed up the spot prices for bitumen, which should help Imperial. Buy.
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