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The Bank of Canada noted this week that Western Canadian oil producers were generally receiving less for their crude than their global counterparts due to local supply and U.S. refining capacity issues. As news of these challenges becomes more widespread, Canadian energy stocks are coming under pressure. However, insider buying is on the rise. For example, this month at Arsenal Energy Inc. director Ronald Neil MacKay bought 142,000 shares between 56 cents and 61 cents while officer Kent Sawatzky bought 70,000 shares at 56 cents.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.