For a wide range of factors, companies operating in the Canadian energy sector are very appealing to investors in today’s market. That has been detailed in many previous articles on this site. Proof was witnessed yesterday with Octagon 88 soaring due to news about production at its holdings in Canada.
Octagon 88 is a Swiss company with valuable properties in Canada.
The stock has been very strong in recent market action due to promising reports. As a result, it has been one of the best performing oil and natural gas stocks in recent market action. The surge yesterday was further evidence.
For even more proof of the appeal of Canadian energy stocks, Warren Buffett is a major shareholder of Suncor Energy (NYSE: SU), a major oil firm based in Calgary. Considered by many to be the best investor ever, when “The Oracle of Omaha” buys that is a bullish sign for a company. Making it even more positive for Suncor Energy is that Buffett has bought more than once.
A recent Wall Street Journal article reported that China had invested $44 billion in North American energy assets since 2008. Another Wall Street Journal piece detailed how Repsol, (OTC: REPPY), the Spanish oil giant, is looking to spend up to $10 billion in Canada and the United States. Others, such as Occidental Petroleum (NYSE: OXY) and Royal Dutch Shell (NYSE: RDS-A), are selling holdings in Africa and the Middle East due to concerns about security and political instability.
Those are two of the most important factors for investors buying energy assets in North America.
Based on reports from third party groups, the Canadian assets of Octagon 88 have tremendous potential. That has certainly been seen by the recent stock action. In a bearish quarter for oil and natural gas firms, Octagon 88 turned in a very bullish performance.