This report is for educational purposes only, and not to provide investment advice.  Before making any investment decision, you should always do your own research or consult a investment professional.														Estimates	Estimates	Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.														Q1 2025
See my website on stocks or see my blog at the following sites.						https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/
Obsidian Energy Ltd					TSX:	OBE	NYSE	OBE	https://www.obsidianenergy.com/			Fiscal Yr:	Dec 31
Year	12/31/12	12/31/13	12/31/14	12/31/15	12/31/16	12/31/17	12/31/18	12/31/19	12/30/20	12/31/21	12/31/22	12/31/23	12/31/24	12/31/25	12/31/26	12/31/27		Value	Description	#Y	Item	Total G	Currency
Accounting Rules	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS					Accounting Rules
USD - CDN$	0.9949	1.0636	1.1601	1.3847	1.3427	1.2545	1.3642	1.2988	1.2732	1.2678	1.3544	1.3226	1.4389	1.3693	1.3693	1.3693					USD - CDN$
Date								10-Jun-19													Date
split																					split
Consoldiation								7													Consoldiation
Comments		Restated																			Comments
Revenue less Royalities			$2,059	$1,059	$586	$407	$408	$387.0	$323.4	$499.9	$919.3	$751.1	$837.7
Revenue*	$3,235	$2,829	$2,433	$1,187	$608	$437	$444	$417.8	$309.7	$451.3	$771.0	$653.3	$731.2	$714	$904			-69.95%	<-Total Growth	10	Revenue		CDN$
					$608.0	$437.0	$444.0	$409.3	$275.4	$477.5	$897.3	$720.6	$817.5	$714	$904
Revenue* (productions)										73.38%	87.92%	-19.69%	13.45%	-12.66%	26.58%
														$830	<-12 mths	1.48%
Revenue* (productions)	$3,235	$2,829	$2,433	$1,187	$608.0	$437.0	$444.0	$409.3	$275.4	$477.5	$897.3	$720.6	$817.5	$714	$904			-66.40%	<-Total Growth	10	Revenue		CDN$
Increase	-11.78%	-12.55%	-14.00%	-51.21%	-48.78%	-28.13%	1.60%	-7.82%	-32.71%	73.38%	87.92%	-19.69%	13.45%	-12.66%	26.58%			-10.33%	<-IRR #YR->	10	Revenue	-66.40%	CDN$
5 year Running Average	$3,756	$3,440	$3,044	$2,670	$2,058	$1,499	$1,022	$617	$434.7	$408.6	$500.7	$556.0	$637.7	$725	$811			14.84%	<-IRR #YR->	5	Revenue	99.73%	CDN$
Revenue per Share	$47.25	$40.49	$34.25	$16.55	$8.47	$6.07	$6.13	$5.61	$3.77	$5.91	$10.88	$9.29	$11.09	$9.80	$12.40			-14.47%	<-IRR #YR->	10	5 yr Running Average	-79.05%	CDN$
Increase	-13.23%	-14.31%	-15.42%	-51.68%	-48.84%	-28.35%	1.01%	-8.49%	-32.71%	56.76%	84.07%	-14.67%	19.46%	-11.69%	26.58%			0.66%	<-IRR #YR->	5	5 yr Running Average	3.34%	CDN$
5 year Running Average	$60.28	$52.39	$44.59	$38.60	$29.40	$21.16	$14.29	$8.56	$6.01	$5.50	$6.46	$7.09	$8.19	$9.40	$10.69			-10.66%	<-IRR #YR->	10	Revenue per Share	-67.60%	CDN$
P/S (Price/Sales) Med	2.40	1.89	1.34	0.83	1.36	2.10	1.16	0.49	0.18	0.53	0.96	1.03	0.87	0.72	0.00			14.63%	<-IRR #YR->	5	Revenue per Share	97.91%	CDN$
P/S (Price/Sales) Close	1.56	1.53	0.50	0.49	1.96	1.80	0.58	0.17	0.23	0.88	0.83	0.97	0.75	0.76	0.60			-15.59%	<-IRR #YR->	10	5 yr Running Average	-81.63%	CDN$
*Sales net of Royalities in M CDN $					P/S Med	20 yr	1.36	15 yr	1.16	10 yr	0.79	5 yr	0.83		-4.05%	Diff M/C		-0.88%	<-IRR #YR->	5	5 yr Running Average	-4.34%	CDN$
			-$2,433	$0	$0	$0	$0	$0	$0	$0	$0	$0	$818
								-$409	$0	$0	$0	$0	$818
			-$3,044	$0	$0	$0	$0	$0	$0	$0	$0	$0	$638
								-$617	$0	$0	$0	$0	$638
			-$34.25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$11.09
								-$5.61	$0.00	$0.00	$0.00	$0.00	$11.09
			-$44.59	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.19
								-$8.56	$0.00	$0.00	$0.00	$0.00	$8.19
pre consold																					pre consold
pre split 06																					pre split 06
pre consold 2019																					pre consold 2019
Distributable Income																					Distributable Income
														$447.70	<-12 mths	3.63%
														$5.72	<-12 mths	4.76%
Funds flow from Operations								$159.1	$117.8	$217.9	$450.7	$377.6	$432.0
pre consold 2019		$2.03	$1.89	$0.36	$0.36	$0.38	$0.18
Funds Flow Basic		$14.21	$13.23	$2.52	$2.52	$2.66	$1.26	$2.20	$1.61	$2.90	$5.34	$4.67	$5.69		<-12 mths			-56.99%	<-Total Growth	10	FFO		CDN$
pre consold 2019		$2.03	$1.89	$0.36	$0.36	$0.38	$0.18
Funds Flow Diluted		$14.21	$13.23	$2.52	$2.52	$2.66	$1.26	$2.20	$1.61	$2.81	$5.50	$4.49	$5.46	$5.72	<-12 mths			105.26%	<-Total Growth	10	FFO Diluted
Increase			-6.90%	-80.95%	0.00%	5.56%	-52.63%	74.60%	-26.82%	74.53%	95.73%	-18.36%	21.60%	4.76%	<-12 mths			10	0	10	Years of Data, EPS P or N	100.00%
FFO Yield		22.9%	77.8%	30.8%	15.2%	24.4%	35.3%	236.6%	185.1%	53.9%	61.2%	49.9%	65.3%	77.1%	<-12 mths			-8.47%	<-IRR #YR->	10	FFO	-58.73%	CDN$
5 year Running Average		$14.21	$13.72	$9.99	$8.12	$7.03	$4.44	$2.23	$2.05	$2.11	$2.68	$3.32	$3.97	$4.80	<-12 mths			19.94%	<-IRR #YR->	5	FFO	148.18%	CDN$
Payout Ratio		46.80%	29.63%	47.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	<-12 mths			-11.65%	<-IRR #YR->	10	5 yr Running Average	-71.03%	CDN$
5 year Running Average						24.73%	15.37%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	<-12 mths			12.23%	<-IRR #YR->	5	5 yr Running Average	78.05%	CDN$
Price/FFO Median		5.39	3.47	5.44	4.56	4.79	5.64	1.24	0.43	1.11	1.89	2.14	1.78	1.23	<-12 mths			2.02	<-Median->	10	P/FFO Med		CDN$
Price/FFO High		6.53	5.73	9.22	7.00	6.79	8.67	2.20	0.72	1.90	2.71	2.68	2.26	1.50	<-12 mths			2.70	<-Median->	10	P/FFO High		CDN$
Price/FFO Low		4.25	1.22	1.67	2.11	2.79	2.61	0.29	0.14	0.32	1.08	1.59	1.30	0.95	<-12 mths			1.45	<-Median->	10	P/FFO Low		CDN$
Price/FFO Close		4.37	1.29	3.25	6.58	4.11	2.83	0.42	0.54	1.85	1.63	2.00	1.53	1.30	<-12 mths			1.93	<-Median->	10	P/FFO Close		CDN$
Trailing P/E			1.20	0.62	6.58	4.33	1.34	0.74	0.40	3.24	3.20	1.63	1.86	1.36	<-12 mths			1.75	<-Median->	10	Trailing P/FFO Close		CDN$
Median Values	Historical	in order	2.81	4.22	1.45	1.93	P/CF	5 Yrs	in order	1.78	2.26	1.08	1.63		-27.02%	Diff M/C		-35.67%	Diff M/C	10	DPR 75% to 95% best
Funds Flow for Distributions to 2005, then company switched to Distributable Cash, then Fund Flows from 2011.
			-$13.23	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.46
								-$2.20	$0.00	$0.00	$0.00	$0.00	$5.46
			-$13.72	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.97
								-$2.23	$0.00	$0.00	$0.00	$0.00	$3.97
														$399.90	<-12 mths	10.50%
														$5.11	<-12 mths	11.82%
Cash Flow from Operations	$1,193.0	$968.0	$848.0	$175.0	-$137.0	$125.0	$99.0	$77.0	$79.7	$198.7	$456.8	$352.7	$361.9	$550.08	$515.70
Funds Flow Basic	$17.56	$13.95	$12.02	$2.44	-$1.91	$1.74	$1.37	$1.06	$1.09	$2.65	$5.57	$4.36	$4.76					174.12%	<-Total Growth	10	CFFO
Funds Flow Diluted	$17.55	$13.95	$12.02	$2.44	-$1.91	$1.74	$1.37	$1.06	$1.09	$2.56	$5.41	$4.19	$4.57	$7.20	$6.75			-61.99%	<-Total Growth	10	CFFO		CDN$
Increase	-16.75%	-20.53%	-13.79%	-79.70%	-178.24%	-190.95%	-21.18%	-22.81%	2.92%	135.50%	111.28%	-22.55%	9.07%	57.55%	-6.25%			9	1	10	Years of Data, EPS P or N	90.00%
CFFO Yield	23.7%	22.5%	70.7%	29.8%	-11.5%	15.9%	38.3%	113.6%	125.0%	49.1%	60.2%	46.6%	54.7%	97.0%	91.0%			-9.22%	<-IRR #YR->	10	CFFO	-61.99%	CDN$
5 year Running Average	$24.74	$19.12	$16.78	$13.41	$8.81	$5.65	$3.13	$0.94	$0.67	$1.56	$2.30	$2.86	$3.56	$4.79	$5.62			34.03%	<-IRR #YR->	5	CFFO	332.56%	CDN$
Payout Ratio	43.07%	47.68%	32.60%	48.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%			-14.35%	<-IRR #YR->	10	5 yr Running Average	-78.76%	CDN$
5 year Running Average	51.96%	47.91%	42.41%	40.40%	34.42%	25.81%	16.27%	9.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%			30.58%	<-IRR #YR->	5	5 yr Running Average	279.68%	CDN$
Price/CFFO Median	6.47	5.49	3.82	5.62	-6.01	7.34	5.19	2.58	0.64	1.22	1.93	2.29	2.12	0.97	0.00			2.21	<-Median->	10	Price/CFFO Median		CDN$
Price/CFFO High	8.77	6.65	6.30	9.52	-9.24	10.40	7.98	4.57	1.07	2.09	2.75	2.88	2.70	1.19	0.00			2.82	<-Median->	10	Price/CFFO High		CDN$
Price/CFFO Low	4.16	4.33	1.34	1.72	-2.79	4.27	2.40	0.60	0.21	0.35	1.10	1.71	1.55	0.76	0.00			1.32	<-Median->	10	Price/CFFO Low		CDN$
Price/CFFO Close	4.21	4.45	1.41	3.36	-8.69	6.29	2.61	0.88	0.80	2.03	1.66	2.15	1.83	1.03	1.10			1.93	<-Median->	10	Price/CFFO Close		CDN$
Trailing P/E	3.51	3.54	1.22	0.68	6.80	-5.72	2.06	0.68	0.82	4.79	3.51	1.66	2.00	1.62	1.03			1.83	<-Median->	10	Trailing P/CFFO Close		CDN$
Median Values	Historical	in order	4.13	6.10	1.96	2.43	P/CF	5 Yrs	in order	1.93	2.70	1.10	1.83		-46.47%	Diff M/C		-53.33%	Diff M/C	10	DPR 75% to 95% best
See Cash Flow from Operations below
Cash flow from operating activities			-$12.02	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.57
								-$1.06	$0.00	$0.00	$0.00	$0.00	$4.57
			-$16.78	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.56
								-$0.94	$0.00	$0.00	$0.00	$0.00	$3.56
														-$2.62	<-12 mths	1.87%
pre split 06
pre consold 2019	$0.37	-$1.67	-$3.51	-$5.27	-$1.39	-$0.17
EPS Basic	$2.59	-$11.69	-$24.57	-$36.89	-$9.73	-$1.19	-$0.60	-$10.80	-$10.53	$5.52	$9.88	$1.33	-$2.67					89.13%	<-Total Growth	10	EPS Basic		CDN$
pre consold
pre split 06
pre consold 2019	$0.37	-$1.67	-$3.51	-$5.27	-$1.39	-$0.17	-$0.27
EPS Diluted*	$2.59	-$11.69	-$24.57	-$36.89	-$9.73	-$1.19	-$0.60	-$10.80	-$10.53	$5.34	$9.60	$1.28	-$2.67	$1.52	$3.20			89.13%	<-Total Growth	10	EPS Diluted		CDN$
Increase	-72.79%	-551.35%	-110.18%	-50.14%	73.62%	87.77%	49.58%	-1700.00%	2.50%	150.71%	79.78%	-86.67%	-308.59%	-157%	111%			3	7	10	Years of Data, EPS P or N	30.00%
Earnings Yield	3.5%	-18.8%	-144.4%	-450.4%	-58.6%	-10.9%	-16.8%	-1161.3%	-1210.3%	102.5%	106.9%	14.2%	-31.9%	20.5%	43.1%			#NUM!	<-IRR #YR->	10	Earnings per Share	89.13%	CDN$
5 Year Running Ave	$7.14	$0.29	-$4.13	-$12.21	-$16.06	-$16.81	-$14.60	-$11.84	-$6.57	-$3.56	-$1.40	-$1.02	$0.60	$3.01	$2.59			11.88%	<-IRR #YR->	5	Earnings per Share	75.28%	CDN$
10 year Running Average	$12.88	$10.08	$6.64	$0.58	-$4.21	-$4.84	-$7.15	-$7.99	-$9.39	-$9.81	-$9.11	-$7.81	-$5.62	-$1.78	-$0.49			#NUM!	<-IRR #YR->	10	5 yr Running Average	114.62%	CDN$
* Diluted ESP per share									E/P	10 Yrs	-24.37%	5Yrs	14.24%					#NUM!	<-IRR #YR->	5	5 yr Running Average	105.10%	CDN$
			$24.57	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$2.67
								$10.80	$0.00	$0.00	$0.00	$0.00	-$2.67
			$4.13	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.60
								$11.84	$0.00	$0.00	$0.00	$0.00	$0.60
My Dividends																					My Dividends
Special Dividends	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00					$0.00	<-Median->	10	Special Dividends	#DIV/0!
pre split 04
pre split 06
pre consold 2019	$1.08	$0.95	$0.56	$0.17	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00									#DIV/0!
Dividend*	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00					-100.00%	<-Total Growth	10	Dividends		CDN$
Increase	20%	-12%	-41%	-70%	-100%	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!					#NUM!	<-IRR #YR->	9	Dividends	-100.00%	CDN$
What is actually earned in dividends from Maximum Trust to Penn West																		#NUM!	<-IRR #YR->	4	Dividends	#DIV/0!	CDN$
		-$6.65	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
							$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Dividend*														$0.00					Estimate		Dividend*
Increase														0.00%					Estimate		Increase
Payout Ratio EPS														0.00%					Estimate		Payout Ratio EPS
Special Dividends	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	<-Median->	10	Special Dividends		CDN$
pre consold 2001																					pre consold
pre split 06																					pre split 06
pre consold 2019	$1.08	$0.95	$0.56	$0.17	$0.00	$0.00	$0.00
Dividend*	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		-100.00%	<-Total Growth	10	Dividends		CDN$
Increase	20.00%	-12.04%	-41.05%	-69.64%	-100.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		1	0	10	Years of Data, EPS P or N	10.00%	CDN$
Average Increases 5 Year Running	-19.01%	-21.41%	-19.62%	-29.44%	-40.55%	-44.55%	-42.14%	-33.93%	-20.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		-24.72%	<-Median->	10	Average Incr 5 Year Running		CDN$
Dividends 5 Yr Running	$13.61	$9.23	$7.15	$5.12	$3.86	$2.35	$1.02	$0.24	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		-100.00%	<-Total Growth	10	Dividends 5 Yr Running		CDN$
Yield H/L Price	6.66%	8.69%	8.53%	8.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%				0.00%	<-Median->	10	Yield H/L Price		CDN$
Yield on High  Price	4.91%	7.17%	5.17%	5.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%				0.00%	<-Median->	10	Yield on High  Price		CDN$
Yield on Low Price	10.35%	11.02%	24.35%	28.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%				0.00%	<-Median->	10	Yield on Low Price		CDN$
Yield on Close Price	10.23%	10.71%	23.05%	14.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		0.00%	<-Median->	10	Yield on Close Price		CDN$
Payout Ratio EPS	291.89%	-56.89%	-15.95%	-3.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	#DIV/0!		0.00%	<-Median->	10	DPR EPS		CDN$
DPR EPS 5 Yr Running	190.59%	3138.10%	-173.22%	-41.97%	-24.06%	-13.99%	-7.00%	-2.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	#DIV/0!		-1.00%	<-Median->	10	DPR EPS 5 Yr Running		CDN$
Payout Ratio CFPS	43.39%	48.00%	32.84%	48.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	#DIV/0!		0.00%	<-Median->	10	DPR CF		CDN$
DPR CF 5 Yr Running	56.25%	49.09%	43.28%	38.50%	44.16%	41.91%	32.82%	25.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	#DIV/0!		12.69%	<-Median->	10	DPR CF 5 Yr Running		CDN$
Payout Ratio CFPS WC	44.78%	50.56%	31.65%	59.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	#DIV/0!		0.00%	<-Median->	10	DPR CF WC		CDN$
DPR CF WC 5 Yr Running	54.93%	49.81%	44.01%	38.79%	44.03%	41.04%	32.08%	23.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	#DIV/0!		11.56%	<-Median->	10	DPR CF WC 5 Yr Running		CDN$
Median Values	10 Yr Med	10 Yr Cl	0.00%	0.00%	5 Yr Med	5 Yr Cl	0.00%	0.00%	5 Yr Med	Payout	0.00%	0.00%	0.00%					0.00%	<-IRR #YR->	5	Dividends	#DIV/0!	0.00%
* Dividends per share	10 Yr Med	and Cur.	#DIV/0!	#DIV/0!	5 Yr Med	and Cur.	#DIV/0!	#DIV/0!	Last Div Inc --->		$0.14	$0.01	-92.9%					-16.96%	<-IRR #YR->	10	Dividends	-100.00%	-16.96%
Dividends Growth 15																		-17.85%	<-IRR #YR->	15	Dividends	-100.00%	-17.85%
Dividends Growth 20																		-14.54%	<-IRR #YR->	20	Dividends	-100.00%	-14.54%
Dividends Growth 25																		-7.12%	<-IRR #YR->	25	Dividends		-7.12%
Dividends Growth 30																		-6.78%	<-IRR #YR->	29	Dividends		-6.78%
Dividends Growth 5								$0.00	$0.00	$0.00	$0.00	$0.00	$0.00								Dividends Growth 5
Dividends Growth 10			-$3.92	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00								Dividends Growth 10
Dividends Growth 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00								Dividends Growth 15
Dividends Growth 20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00								Dividends Growth 20
Dividends Growth 25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00								Dividends Growth 25
Dividends Growth 30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00								Dividends Growth 30
Historical Dividends	Historical	High Div	33.29%	Low Div	0.00%	10 Yr High	25.50%	10 Yr Low	0.00%	Med Div	8.68%	Close Div	10.47%								Historical Dividends		CDN$
High/Ave/Median Values	Curr diff	Exp.	-100.00%	#DIV/0!	#DIV/0!	Exp.	-100.00%		#DIV/0!	Exp.	-100.00%	Exp.	-100.00%								High/Ave/Median		CDN$
Future Dividend Yield					Div Yd	0.00%	earning in	5.00	Years	at IRR of	0.00%	Div Inc.	#DIV/0!								Future Dividend Yield		CDN$
Future Dividend Yield					Div Yd	0.00%	earning in	10.00	Years	at IRR of	0.00%	Div Inc.	#DIV/0!								Future Dividend Yield		CDN$
Future Dividend Yield					Div Yd	0.00%	earning in	15.00	Years	at IRR of	0.00%	Div Inc.	#DIV/0!								Future Dividend Yield		CDN$
Future Dividend Paid					Div Paid	$0.00	earning in	5	Years	at IRR of	0.00%	Div Inc.	#DIV/0!								Future Dividend Paid		CDN$
Future Dividend Paid					Div Paid	$0.00	earning in	10	Years	at IRR of	0.00%	Div Inc.	#DIV/0!								Future Dividend Paid		CDN$
Future Dividend Paid					Div Paid	$0.00	earning in	15	Years	at IRR of	0.00%	Div Inc.	#DIV/0!								Future Dividend Paid		CDN$
Dividend Covering Cost					Total Div	$0.00	over	5	Years	at IRR of	0.00%	Div Cov.	#DIV/0!								Dividend Covering Cost		CDN$
Dividend Covering Cost					Total Div	$0.00	over	10	Years	at IRR of	0.00%	Div Cov.	#DIV/0!								Dividend Covering Cost		CDN$
Dividend Covering Cost					Total Div	$0.00	over	15	Years	at IRR of	0.00%	Div Cov.	#DIV/0!								Dividend Covering Cost		CDN$
Yield if held 5 years	2.11%	3.91%	3.92%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		0.00%	<-Median->	10	Paid Median Price		CDN$
Yield if held 10 years	5.40%	3.82%	1.99%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		0.00%	<-Median->	10	Paid Median Price		CDN$
Yield if held 15 years	4.48%	6.19%	3.52%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		0.00%	<-Median->	10	Paid Median Price		CDN$
Yield if held 20 years				0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		0.00%	<-Median->	10	Paid Median Price		CDN$
Yield if held 25 years									0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		0.00%	<-Median->	5	Paid Median Price		CDN$
Yield if held 30 years														0.00%	0.00%	0.00%
Cost covered if held 5 years	19.00%	27.12%	35.81%	17.45%	12.96%	10.36%	6.68%	2.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		1.29%	<-Median->	10	Paid Median Price		CDN$
Cost covered if held 10 years	138.92%	101.54%	80.37%	60.39%	39.25%	22.28%	30.13%	37.00%	17.45%	12.96%	10.36%	6.68%	2.59%	0.00%	0.00%	0.00%		19.87%	<-Median->	10	Paid Median Price		CDN$
Cost covered if held 15 years	206.42%	314.98%	287.97%	163.91%	114.89%	147.32%	104.48%	80.97%	60.39%	39.25%	22.28%	30.13%	37.00%	17.45%	12.96%	10.36%		70.68%	<-Median->	10	Paid Median Price		CDN$
Cost covered if held 20 years				201.67%	258.31%	213.39%	319.74%	289.04%	163.91%	114.89%	147.32%	104.48%	80.97%	60.39%	39.25%	22.28%		182.79%	<-Median->	10	Paid Median Price		CDN$
Cost covered if held 25 years									201.67%	258.31%	213.39%	319.74%	289.04%	163.91%	114.89%	147.32%		258.31%	<-Median->	5	Paid Median Price		CDN$
Cost covered if held 30 years														201.67%	258.31%	213.39%		#NUM!	<-Median->	0	Paid Median Price
																				Yr	Item	Tot. Growth	Per Year
Revenue Growth CDN$								$409.3	$275.4	$477.5	$897.3	$720.6	$817.5	$830	<-12 mths	1.48%		99.73%	<-Total Growth	5	Revenue Growth	99.73%	14.84%
FFO Growth								$2.20	$1.61	$2.81	$5.50	$4.49	$5.46	$5.72	<-12 mths	4.76%		148.18%	<-Total Growth	5	FFO Growth	148.18%	19.94%
Net Income Growth								-$788.3	-$771.7	$414.0	$810.1	$108.0	-$202.6	-$199	<-12 mths	1.73%		0.00%	<-Total Growth	5	Net Income Growth	0.00%	0.00%
Cash Flow Growth								$77.0	$79.7	$198.7	$456.8	$352.7	$361.9	$112	<-12 mths	-69.14%		370.00%	<-Total Growth	5	Cash Flow Growth	370.00%	36.28%
Dividend Growth								$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	<-12 mths	#DIV/0!		0.00%	<-Total Growth	5	Dividend Growth	0.00%	0.00%
Stock Price Growth								$0.93	$0.87	$5.21	$8.98	$8.99	$8.36	$7.42	<-12 mths	-11.24%		798.92%	<-Total Growth	5	Stock Price Growth	798.92%	55.15%
Revenue Growth			$2,433.0	$1,187.0	$608.0	$437.0	$444.0	$409.3	$275.4	$477.5	$897.3	$720.6	$817.5	$714	<-this year	-12.66%		-66.40%	<-Total Growth	10	Revenue Growth	-66.40%	-10.33%
FFO Growth			$13.23	$2.52	$2.52	$2.66	$1.26	$2.20	$1.61	$2.81	$5.50	$4.49	$5.46	$5.72	<-this year	4.76%		-58.73%	<-Total Growth	10	FFO Growth	-58.73%	-8.47%
Net Income Growth			-$1,733.0	-$2,646.0	-$696.0	-$84.0	-$305.0	-$788.3	-$771.7	$414.0	$810.1	$108.0	-$202.6	$29	<-this year	114.31%		0.00%	<-Total Growth	10	Net Income Growth	0.00%	0.00%
Cash Flow Growth			$848.0	$175.0	-$137.0	$125.0	$99.0	$77.0	$79.7	$198.7	$456.8	$352.7	$361.9	$287	<-this year	-20.66%		-57.32%	<-Total Growth	10	Cash Flow Growth	-57.32%	-8.16%
Dividend Growth			$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	<-this year	#DIV/0!		0.00%	<-Total Growth	10	Dividend Growth	0.00%	0.00%
Stock Price Growth			$17.01	$8.19	$16.59	$10.92	$3.57	$0.93	$0.87	$5.21	$8.98	$8.99	$8.36	$7.42	<-this year	-11.24%		-50.85%	<-Total Growth	10	Stock Price Growth	-50.85%	-6.86%
Dividends on Shares				$70.21	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$70.21	No of Years	10	Total Divs	12/31/14
Paid			$1,003.59	$483.21	$978.81	$644.28	$210.63	$54.87	$51.33	$307.39	$529.82	$530.41	$493.24	$437.78	$437.78	$437.78		$493.24	No of Years	10	Worth	$17.01	58.79
Total																		$563.45
Dividends on Shares									$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	No of Years	5	Total Divs	12/31/19
Paid								$1,000.68	$936.12	$5,605.96	$9,662.48	$9,673.24	$8,995.36	$7,983.92	$7,983.92	$7,983.92		$8,995.36	No of Years	5	Worth	$0.93	1,075.27
Total																		$8,995.36
Based on FFO		$185.42	$152.93	$48.16	$42.12	$42.42	$27.03	$27.21	$12.66	$24.45	$48.70	$46.26	$48.41	$49.93	#VALUE!	$0.00		-68.34%	<-Total Growth	10	Based on FFO		CDN$
Price/GP Ratio Med		0.41	0.30	0.28	0.27	0.30	0.26	0.10	0.05	0.13	0.21	0.21	0.20	0.14				0.21	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio High		0.50	0.50	0.48	0.42	0.43	0.40	0.18	0.09	0.22	0.31	0.26	0.25	0.17				0.28	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Low		0.33	0.11	0.09	0.13	0.17	0.12	0.02	0.02	0.04	0.12	0.15	0.15	0.11				0.12	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Close		0.33	0.11	0.17	0.39	0.26	0.13	0.03	0.07	0.21	0.18	0.19	0.17	0.15				0.18	<-Median->	10	Price/GP Ratio		CDN$
Prem/Disc Close		-66.51%	-88.88%	-83.00%	-60.61%	-74.26%	-86.79%	-96.58%	-93.13%	-78.69%	-81.56%	-80.57%	-82.73%	-85.14%	#VALUE!	#DIV/0!		-82.15%	<-Median->	10	Graham Price		CDN$
Based on EPS 3 yrs trailing	$101.37	$112.20	$15.73	$15.73	$15.73	$15.73	$15.73	$15.73	$15.73	$15.73	$27.70	$48.72	$48.18	$34.54	$4.35	$17.26		206.23%	<-Total Growth	10	Based on EPS 3 yrs trailing		CDN$
Price/GP Ratio Med	1.12	0.68	2.92	0.87	0.73	0.81	0.45	0.17	0.04	0.20	0.38	0.20	0.20	0.20				0.29	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio High	1.52	0.83	4.82	1.48	1.12	1.15	0.69	0.31	0.07	0.34	0.54	0.25	0.26	0.25				0.44	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Low	0.72	0.54	1.02	0.27	0.34	0.47	0.21	0.04	0.01	0.06	0.21	0.15	0.15	0.16				0.18	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Close	0.73	0.55	1.08	0.52	1.05	0.69	0.23	0.06	0.06	0.33	0.32	0.18	0.17	0.21	1.71	0.43		0.28	<-Median->	10	Price/GP Ratio		CDN$
Prem/Disc Close	-27.08%	-44.66%	8.12%	-47.94%	5.45%	-30.59%	-77.31%	-94.09%	-94.47%	-66.88%	-67.58%	-81.55%	-82.65%	-78.52%	70.73%	-57.01%		-72.45%	<-Median->	10	Graham Price		CDN$
Minimum profit?		$0.01	$0.01	$0.01	$0.01	$0.01	$0.01	$0.01	$0.01
Graham Price	$86.91	$4.92	$4.20	$3.03	$2.65	$2.60	$2.41	$1.83	$1.00	$33.70	$64.33	$24.70	$23.44	$25.74	$37.35	$0.00		457.51%	<-Total Growth	10	Graham Price		CDN$
Price/GP Ratio Med	1.31	15.56	10.93	4.52	4.33	4.90	2.95	1.49	0.70	0.09	0.16	0.39	0.41	0.27				1.09	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio High	1.77	18.86	18.03	7.66	6.65	6.94	4.53	2.63	1.16	0.16	0.23	0.49	0.53	0.33				1.90	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Low	0.84	12.27	3.83	1.38	2.01	2.85	1.37	0.34	0.23	0.03	0.09	0.29	0.30	0.21				0.32	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Close	0.85	12.62	4.05	2.70	6.25	4.20	1.48	0.51	0.87	0.15	0.14	0.36	0.36	0.29	0.20	#DIV/0!		0.69	<-Median->	10	Price/GP Ratio		CDN$
Prem/Disc Close	-14.95%	1162.30%	304.56%	169.94%	525.30%	319.87%	48.24%	-49.30%	-12.81%	-84.54%	-86.04%	-63.61%	-64.34%	-71.17%	-80.13%	#DIV/0!		-31.06%	<-Median->	10	Graham Price		CDN$
pre consold 2001
pre split 06
pre consold 2019	$10.56	$8.87	$2.43	$1.17	$2.37	$1.56
Price Close CDN$	$73.92	$62.09	$17.01	$8.19	$16.59	$10.92	$3.57	$0.93	$0.87	$5.21	$8.98	$8.99	$8.36	$7.42	$7.42	$7.42		-50.85%	<-Total Growth	10	Stock Price		CDN$
Increase	-47.70%	-16.00%	-72.60%	-51.85%	102.56%	-34.18%	-67.31%	-73.95%	-6.45%	498.85%	72.36%	0.11%	-7.01%	-11.24%	0.00%	0.00%		-2.80	<-Median->	10	CAPE (10 Yr P/E)
P/E	28.54	-5.31	-0.69	-0.22	-1.71	-9.18	-5.95	-0.09	-0.08	0.98	0.94	7.02	-3.13	4.88	2.32	#DIV/0!		55.15%	<-IRR #YR->	5	Stock Price	798.92%	CDN$
Trailing P/E	7.76	23.97	-1.46	-0.33	-0.45	-1.12	-3.00	-1.55	-0.08	-0.49	1.68	0.94	6.53	-2.78	4.88	2.32		-6.86%	<-IRR #YR->	10	Stock Price	-50.85%	CDN$
CAPE (10 Yr P/E)	13.81	16.10	21.94	210.99	-23.61	-14.92	-8.81	-6.28	-3.57	-2.03	-1.48	-1.04	-1.29	-4.04	-12.92	#DIV/0!		55.15%	<-IRR #YR->	5	Price & Dividend	798.92%	CDN$
Median 10, 5 Yrs		D.  per yr	0.72%	0.00%	% Tot Ret	0.00%	0.00%	T P/E	-0.15	0.94	P/E:	-0.07	0.00					-6.13%	<-IRR #YR->	10	Price & Dividend	-43.86%	CDN$
Price 15		D.  per yr	3.20%		% Tot Ret	-23.66%					CAPE Diff	CAPE Diff	-274.20%					-16.71%	<-IRR #YR->	15	Stock Price	-93.56%	CDN$
Price  20		D.  per yr	12.64%		% Tot Ret	-769.69%												-14.28%	<-IRR #YR->	20	Stock Price	-95.41%	CDN$
Price  25		D.  per yr	31.12%		% Tot Ret	151.54%												-10.59%	<-IRR #YR->	25	Stock Price		CDN$
Price  30		D.  per yr	19.46%		% Tot Ret	220.20%												-10.62%	<-IRR #YR->	29	Stock Price		CDN$
Price & Dividend 15																		-13.51%	<-IRR #YR->	15	Price & Dividend	-65.10%	CDN$
Price & Dividend 20																		-1.64%	<-IRR #YR->	20	Price & Dividend	-7.85%	CDN$
Price & Dividend 25																		20.54%	<-IRR #YR->	25	Price & Dividend		CDN$
Price & Dividend 30																		8.84%	<-IRR #YR->	29	Price & Dividend		CDN$
Price  5								-$0.93	$0.00	$0.00	$0.00	$0.00	$8.36								Price  5
Price 10			-$17.01	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price 10
Price & Dividend 5								-$0.93	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 5
Price & Dividend 10			-$17.01	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 10
Price 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price 15
Price  20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price  20
Price  25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price  25
Price  30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36
Price & Dividend 15	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 15
Price & Dividend 20	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 20
Price & Dividend 25	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 25
Price & Dividend 30	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36
Price H/L Median	$113.47	$76.55	$45.96	$13.72	$11.48	$12.74	$7.11	$2.73	$0.70	$3.12	$10.42	$9.61	$9.71	$7.01				-78.88%	<-Total Growth	10	Stock Price		CDN$
Increase	-23.86%	-32.54%	-39.96%	-70.14%	-16.33%	10.98%	-44.23%	-61.58%	-74.54%	348.92%	233.81%	-7.78%	1.04%	-27.77%				-14.40%	<-IRR #YR->	10	Stock Price	-78.88%	CDN$
P/E	43.81	-6.55	-1.87	-0.37	-1.18	-10.71	-11.84	-0.25	-0.07	0.58	1.08	7.50	-3.63	4.61				28.87%	<-IRR #YR->	5	Stock Price	255.49%	CDN$
Trailing P/E	11.92	29.55	-3.93	-0.56	-0.31	-1.31	-5.97	-4.55	-0.06	-0.30	1.95	1.00	7.58	-2.63				-14.14%	<-IRR #YR->	10	Price & Dividend		CDN$
P/E on Run. 5 yr Ave	15.89	260.36	-11.13	-1.12	-0.71	-0.76	-0.49	-0.23	-0.11	-0.88	-7.45	-9.40	16.07	2.33				28.87%	<-IRR #YR->	5	Price & Dividend		CDN$
P/E on Run. 10 yr Ave	8.81	7.60	6.92	23.61	-2.73	-2.63	-0.99	-0.34	-0.07	-0.32	-1.14	-1.23	-1.73	-3.94				5.80	P/E Ratio		Historical Median	7.39	CDN$
Median 10, 5 Yrs		D.  per yr	0.26%	0.00%	% Tot Ret	-1.86%	0.00%	T P/E	-0.30	1.00	P/E:	-0.31	0.58						Count	30	Years of data		CDN$
			-$45.96	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$9.71
								-$2.73	$0.00	$0.00	$0.00	$0.00	$9.71
			-$45.96	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$9.71
								-$2.73	$0.00	$0.00	$0.00	$0.00	$9.71
High Months	Feb	Jul	Jun	Feb	Oct	Jan	Jun	Jan	Jan	Nov	Jun	Nov	Apr	Apr
pre consold 2001
pre split 06
pre consold 2019	$21.99	$13.25	$10.83	$3.32	$2.52	$2.58
Price High	$153.93	$92.75	$75.81	$23.24	$17.64	$18.06	$10.92	$4.83	$1.16	$5.35	$14.90	$12.05	$12.32	$8.58				-83.75%	<-Total Growth	10	Stock Price		CDN$
Increase	-21.72%	-39.75%	-18.26%	-69.34%	-24.10%	2.38%	-39.53%	-55.77%	-75.98%	361.21%	178.50%	-19.13%	2.24%	-30.36%				-16.61%	<-IRR #YR->	10	Stock Price	-83.75%	CDN$
P/E	59.43	-7.93	-3.09	-0.63	-1.81	-15.18	-18.20	-0.45	-0.11	1.00	1.55	9.41	-4.61	5.64				20.60%	<-IRR #YR->	5	Stock Price	155.07%	CDN$
Trailing P/E	16.17	35.81	-6.49	-0.95	-0.48	-1.86	-9.18	-8.05	-0.11	-0.51	2.79	1.26	9.63	-3.21				7.06	P/E Ratio		Historical Median	9.81
Median 10, 5 Yrs								T P/E	-0.49	1.26	P/E:	-0.54	1.00					27.27	P/E Ratio		Historical High
			-$75.81	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$12.32
								-$4.83	$0.00	$0.00	$0.00	$0.00	$12.32
Low Months	Nov	Nov	Dec	Oct	Jan	Aug	Dec	Nov	Apr	Jan	Jan	Jun	Dec	May
pre consold
pre split 06
pre consold 2019	$10.43	$8.62	$2.30	$0.60	$0.76	$1.06
Price Low	$73.01	$60.34	$16.10	$4.20	$5.32	$7.42	$3.29	$0.63	$0.23	$0.89	$5.93	$7.16	$7.09	$5.44				-55.96%	<-Total Growth	10	Stock Price		CDN$
Increase	-28.02%	-17.35%	-73.32%	-73.91%	26.67%	39.47%	-55.66%	-80.85%	-63.49%	286.96%	566.29%	20.74%	-0.98%	-23.27%				-7.87%	<-IRR #YR->	10	Stock Price	-55.96%	CDN$
P/E	28.19	-5.16	-0.66	-0.11	-0.55	-6.24	-5.48	-0.06	-0.02	0.17	0.62	5.59	-2.66	3.58				62.28%	<-IRR #YR->	5	Stock Price	1025.40%	CDN$
Trailing P/E	7.67	23.30	-1.38	-0.17	-0.14	-0.76	-2.76	-1.05	-0.02	-0.08	1.11	0.75	5.54	-2.04				3.66	P/E Ratio		Historical Median	4.66
Median 10, 5 Yrs								T P/E	-0.11	0.75	P/E:	-0.09	0.17					-2.37	P/E Ratio		Historical Low
			-$16.10	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.09
								-$0.63	$0.00	$0.00	$0.00	$0.00	$7.09
pre split 04
pre split 06
pre consold 2019
Price Close CDN$ (Max to OBE)	$73.92	$62.09	$17.01	$8.19	$16.59	$10.92	$3.57	$0.93	$0.87	$5.21	$8.98	$8.99	$8.36	$7.42	$7.42	$7.42		-50.85%	<-Total Growth	10	Stock Price		CDN$
Increase	-47.70%	-16.00%	-72.60%	-51.85%	102.56%	-34.18%	-67.31%	-73.95%	-6.45%	498.85%	72.36%	0.11%	-7.01%	-11.24%	0.00%	0.00%		-3.81	<-Median->	10	CAPE (10 Yr P/E)
P/E	28.54	-5.31	-0.69	-0.22	-1.71	-9.18	-5.95	-0.09	-0.08	0.98	0.94	7.02	-3.13	4.88	2.32	#DIV/0!		55.15%	<-IRR #YR->	5	Stock Price	798.92%	CDN$
Trailing P/E	7.76	23.97	-1.46	-0.33	-0.45	-1.12	-3.00	-1.55	-0.08	-0.49	1.68	0.94	6.53	-2.78	4.88	2.32		-6.86%	<-IRR #YR->	10	Stock Price	-50.85%	CDN$
CAPE (10 Yr P/E)	13.39	16.10	21.94	210.99	-23.61	-14.92	-8.81	-6.28	-3.57	-2.03	-1.48	-1.04	-1.29	-4.04	-12.92	#DIV/0!		55.15%	<-IRR #YR->	5	Price & Dividend	798.92%	CDN$
Median 10, 5 Yrs		D.  per yr	0.72%	0.00%	% Tot Ret	0.00%	0.00%	T P/E	-0.39	0.94	P/E:	-0.15	0.94					-6.13%	<-IRR #YR->	10	Price & Dividend	-43.86%	CDN$
Price 15		D.  per yr	3.20%		% Tot Ret	-23.66%						CAPE Diff	-228.24%					-16.71%	<-IRR #YR->	15	Stock Price	-93.56%	CDN$
Price  20		D.  per yr	13.81%		% Tot Ret	-2969.49%												-14.28%	<-IRR #YR->	20	Stock Price	-95.41%	CDN$
Price  25		D.  per yr	39.76%		% Tot Ret	123.42%												-7.55%	<-IRR #YR->	25	Stock Price		CDN$
Price  30		D.  per yr	19.20%		% Tot Ret	211.34%												-10.11%	<-IRR #YR->	27	Stock Price
Price & Dividend 15																		-13.51%	<-IRR #YR->	15	Price & Dividend	-65.10%	CDN$
Price & Dividend 20																		-0.47%	<-IRR #YR->	20	Price & Dividend	-2.15%	CDN$
Price & Dividend 25																		32.21%	<-IRR #YR->	25	Price & Dividend		CDN$
Price & Dividend 30																		9.08%	<-IRR #YR->	27	Price & Dividend
Price  5								-$0.93	$0.00	$0.00	$0.00	$0.00	$8.36								Price  5
Price 10			-$17.01	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price 10
Price & Dividend 5								-$0.93	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 5
Price & Dividend 10			-$17.01	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 10
Price 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price 15
Price  20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price  20
Price  25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price  25
Price  30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price  30
Price & Dividend 15	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 15
Price & Dividend 20	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 20
Price & Dividend 25	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 25
Price & Dividend 30	$7.56	$6.65	$3.92	$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.36								Price & Dividend 30
Price Close US$ using Exchange Rate	$74.30	$58.38	$14.66	$5.91	$12.36	$8.70	$2.62	$0.72	$0.68	$4.11	$6.63	$6.80	$5.81	$5.42	$5.42	$5.42
pre split 06
pre consold 2019	$10.59	$8.36	$2.08	$0.86	$1.77	$1.24
Price Close US$	$74.13	$58.52	$14.56	$6.02	$12.39	$8.68	$2.82	$0.72	$0.67	$4.12	$6.71	$6.78	$5.79	$5.40	$5.40	$5.40		-60.23%	<-Total Growth	10	Stock prices		US$
Increase	-46.52%	-21.06%	-75.12%	-58.65%	105.81%	-29.94%	-67.51%	-74.47%	-6.94%	515.00%	62.84%	1.04%	-14.60%	-6.74%	0.00%	0.00%		-0.64	<-Median->	10	CAPE (10 Yr P/E)		US$
P/E	28.48	-5.32	-0.69	-0.23	-1.71	-9.15	-6.41	-0.09	-0.08	0.98	0.95	7.01	-3.12	4.86	2.31	#DIV/0!		51.73%	<-IRR #YR->	5	Stock Price	704.17%	US$
Trailing P/E	7.95	22.48	-1.32	-0.28	-0.47	-1.20	-2.97	-1.64	-0.08	-0.50	1.59	0.96	5.98	-2.91	4.86	2.31		-8.81%	<-IRR #YR->	10	Stock Price	-60.23%	US$
CAPE (10 Yr P/E)	4.59	4.63	1.75	8.26	-2.35	-1.43	-0.31	-0.07	-0.06	-0.33	-0.59	-0.69	-0.82	-2.42	-8.88	#DIV/0!		51.73%	<-IRR #YR->	5	Price & Dividend		US$
Median 10, 5 Yrs		D.  per yr	0.61%	0.00%	% Tot Ret	0.00%	0.00%	T P/E	-0.37	0.96	P/E:	-0.16	0.95					-8.20%	<-IRR #YR->	10	Price & Dividend		US$
Price 15												CAPE Diff	-860.41%					-18.44%	<-IRR #YR->	15	Stock Price		US$
Price  20																		-15.08%	<-IRR #YR->	20	Stock Price		US$
Price  25																		-10.51%	<-IRR #YR->	25	Stock Price		US$
Price & Dividend 15																		-15.05%	<-IRR #YR->	15	Price & Dividend		US$
Price & Dividend 20																		1.15%	<-IRR #YR->	20	Price & Dividend		US$
Price & Dividend 25																		15.32%	<-IRR #YR->	25	Price & Dividend		US$
Price  5								-$0.72	$0.00	$0.00	$0.00	$0.00	$5.79								Price  5
Price 10			-$14.56	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.79								Price 10
Price & Dividend 5								-$0.72	$0.00	$0.00	$0.00	$0.00	$5.79								Price & Dividend 5
Price & Dividend 10			-$14.56	$0.86	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.79								Price & Dividend 10
Price 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.79								Price 15
Price  20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.79								Price  20
Price  25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.79								Price  25
Price & Dividend 15	$7.60	$6.25	$3.38	$0.86	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.79								Price & Dividend 15
Price & Dividend 20	$7.60	$6.25	$3.38	$0.86	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.79								Price & Dividend 20
Price & Dividend 25	$7.60	$6.25	$3.38	$0.86	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.79								Price & Dividend 25
Price H/L Median US$	$113.86	$81.31	$42.42	$10.92	$8.58	$10.08	$5.89	$2.05	$0.55	$2.52	$8.07	$7.11	$7.00	$5.05				-83.50%	<-Total Growth	10	Stock prices		US$
Increase	-23.46%	-28.59%	-47.83%	-74.26%	-21.47%	17.55%	-41.62%	-65.17%	-73.41%	361.62%	220.68%	-11.93%	-1.48%	-27.93%				-16.49%	<-IRR #YR->	10	Stock Price	-83.50%	US$
P/E	43.74	-7.40	-2.00	-0.41	-1.18	-10.63	-13.38	-0.25	-0.07	0.60	1.14	7.34	-3.77	4.54				27.84%	<-IRR #YR->	5	Stock Price	241.46%	US$
Trailing P/E	12.21	31.23	-3.86	-0.52	-0.32	-1.39	-6.20	-4.66	-0.07	-0.30	1.92	1.00	7.23	-2.72				-16.28%	<-IRR #YR->	10	Price & Dividend		US$
Median 10, 5 Yrs		D.  per yr	0.20%	0.00%	% Tot Ret	-1.24%	0.00%	T P/E	-0.31	1.00	P/E:	-0.33	0.60					27.84%	<-IRR #YR->	5	Price & Dividend		US$
																		7.34	P/E Ratio		Historical Median		US$
			-$42.42	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.00						Count	25	Years of data		US$
								-$2.05	$0.00	$0.00	$0.00	$0.00	$7.00
			-$42.42	$0.86	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.00
								-$2.05	$0.00	$0.00	$0.00	$0.00	$7.00
High Months			Jun	Feb	Oct	Jan	Jan	Jan	Jan	Nov	Jun	Nov	Apr	Feb
pre split 06
pre consold 2019	$22.10	$12.80	$10.14	$2.67	$1.91	$2.04
Price High US$	$154.70	$89.60	$70.98	$18.69	$13.37	$14.28	$9.31	$3.64	$0.93	$4.22	$11.85	$8.78	$9.06	$6.14				-87.24%	<-Total Growth	10	Stock prices		US$
Increase	-23.53%	-42.08%	-20.78%	-73.67%	-28.46%	6.81%	-34.80%	-60.90%	-74.45%	353.76%	180.81%	-25.91%	3.19%	-32.23%				-18.60%	<-IRR #YR->	10	Stock Price	-87.24%	US$
P/E	-0.09	0.04	0.01	0.03	0.04	-0.07	0.79	0.07	0.09	0.84	0.26	-0.27	-0.02	-0.29				20.01%	<-IRR #YR->	5	Stock Price	148.90%	US$
Trailing P/E	16.60	34.42	-6.46	-0.88	-0.50	-1.97	-9.81	-8.28	-0.11	-0.51	2.81	1.24	9.36	-3.31				0.02	P/E Ratio		Historical Median		US$
Median 10, 5 Yrs								T P/E	-0.51	1.24	P/E:	0.06	0.09					0.10	P/E Ratio		Historical High		US$
			-$70.98	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$9.06
								-$3.64	$0.00	$0.00	$0.00	$0.00	$9.06
Low Months			Dec	Oct	Jan	Aug	Dec	Dec	Mar	Mar	Jan	Jun	Dec	May
pre split 06
pre consold 2019	$10.43	$10.43	$1.98	$0.45	$0.54	$0.84	$0.84	$0.84	$0.89	$0.89	$0.89	$5.43	$5.43	$6.33
Price Low US$	$73.01	$73.01	$13.86	$3.15	$3.78	$5.88	$2.46	$0.46	$0.16	$0.81	$4.29	$5.43	$4.94	$3.95				-64.36%	<-Total Growth	10	Stock prices		US$
Increase	-23.31%	0.00%	-81.02%	-77.27%	20.00%	55.56%	-58.16%	-81.30%	-65.22%	407.31%	427.97%	26.71%	-9.02%	-20.04%				-9.80%	<-IRR #YR->	10	Stock Price	-64.36%	US$
P/E	28.05	-6.64	-0.65	-0.12	-0.52	-6.20	-5.59	-0.06	-0.02	0.19	0.60	5.61	-2.66	3.56				60.77%	<-IRR #YR->	5	Stock Price	973.91%	US$
Trailing P/E	7.83	28.05	-1.26	-0.15	-0.14	-0.81	-2.59	-1.05	-0.02	-0.10	1.02	0.77	5.10	-2.13				4.17	P/E Ratio		Historical Median		US$
Median 10, 5 Yrs								T P/E	-0.12	0.77	P/E:	-0.09	0.19					-2.26	P/E Ratio		Historical Low		US$
			-$13.86	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.94
								-$0.46	$0.00	$0.00	$0.00	$0.00	$4.94
													$25	<-12 mths	-45.65%
Free Cash Flow Mrk Sc									$22.2	$57.8	$142.0	$58.5	$65.0	$128.3	$59.0
Change									$22.2	160.36%	145.67%	-58.80%	11.11%	97.38%	-54.01%
Free Cash Flow WSJ									$22.2	$57.7	$130.9	$58.8	-$66.4	$128.3	$59.0				Free Cash Flow WSJ
Change										159.91%	126.86%	-55.08%	-212.93%	293.22%	-54.01%				Change
Free Cash Flow MS old				-$295.0	-$219.0	-$16.0	-$69.0	-$26.0	$22.2	$58	$137	$60							Free Cash Flow MS old
Change					25.76%	92.69%	-331.25%	62.32%	185.38%	161.26%	136.21%	-56.20%							Change
Free Cash Flow MS	-$571.0	$264.0	$116.0	-$326.0	-$122.0	-$21.0	-$137.0	$14.0	$28.8	$62.8	$102.6	$46.0	-$28.9	$128.3	$59.0			501.38%	<-Total Growth	10	Free Cash Flow
Change	-30.07%	146.23%	-56.06%	-381.03%	62.58%	82.79%	-552.38%	110.22%	105.71%	118.06%	63.38%	-55.17%	-162.83%	543.94%	-54.01%			#NUM!	<-IRR #YR->	5	Free Cash Flow MS	-306.43%
FCF/CF from Op Ratio	-0.48	0.27	0.14	-1.86	0.89	-0.17	-1.38	0.18	0.36	0.32	0.22	0.13	-0.08	0.45	0.20			#NUM!	<-IRR #YR->	10	Free Cash Flow MS	-124.91%
Dividends paid	$517.60	$464.62	$278.50	$75.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00			0.00%	<-Total Growth	10	Dividends paid
Percentage paid				-23.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%			$0.00	<-Median->	10	Percentage paid
5 Year Coverage								-12.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%						5 Year Coverage
Dividend Coverage Ratio				-4.35	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00					0.00	<-Median->	10	Dividend Coverage Ratio
5 Year of Covereage								-7.89	0.00	0.00	0.00	0.00	0.00								5 Year of Caogerage
								-$14	$0	$0	$0	$0	-$29
			-$116	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$29
Market Cap $M	$5,061	$4,338	$1,208	$588	$1,192	$787	$259	$68	$64	$421	$740	$698	$616	$541	$541	$541		-49.03%	<-Total Growth	10	Market Cap		CDN$
pre consold 2019	475.808	485.814	493.669	502.0	502.3	503.9	506.3	507.8
Diluted # of Share in Million	67.97	69.40	70.52	71.71	71.76	71.99	72.33	72.9	73.3	77.6	84.4	84.1	76.0	76.4	76.4	76.4		7.76%	<-Total Growth	10	Diluted
Change		2.10%	1.62%	1.68%	0.06%	0.32%	0.48%	0.77%	0.57%	5.87%	8.76%	-0.36%	-9.63%	0.53%	0.00%	0.00%		0.01	<-Median->	10	Change
Difference Diluted/Basic	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-3.2%	-2.8%	-3.8%	0.0%	-3.8%	-100.0%	-100.0%					Difference Diluted/Basic
Cash Flow per Share - Diluted	$17.55	$13.95	$12.02	$2.44	-$1.91	$1.74	$1.37	$1.06	$1.09	$2.56	$5.41	$4.19
pre consold 2019	475.604	485.814	493.669	502.0	502.3	503.9	506.3	506.3
Basic # of Shares in Millions	67.94	69.40	70.52	71.71	71.76	71.99	72.33	72.9	73.3	75.1	82.0	80.9	76.0	73.5				7.76%	<-Total Growth	10	Average
Change	1.80%	2.15%	1.62%	1.68%	0.06%	0.32%	0.48%	0.77%	0.57%	2.46%	9.19%	-1.34%	-6.06%	-3.29%				0.01	<-Median->	10	Change
Difference Basic/Outstanding	0.8%	0.7%	0.7%	0.0%	0.1%	0.1%	0.2%	0.2%	-0.4%	7.5%	0.5%	-4.1%	-3.0%	-0.9%				0.00	<-Median->	10	Difference Basic/Outstanding
Cash Flow per Share - Basic	$17.56	$13.95	$12.02	$2.44	-$1.91	$1.74	$1.37	$1.06	$1.09	$2.65	$5.57	$4.36	$4.76	$3.91
														$112	<-12 mths	51.57%
reason for inc.	SO/Drip/Can
pre consold
pre split 06
pre consold 2019	479.26	489.08	497.32	502.16	502.76	504.34	507.32	509.73
# of Share in Millions	68.47	69.87	71.05	71.74	71.82	72.05	72.47	73.01	73.01	80.75	82.44	77.59	73.68	72.87	72.87	72.87		0.37%	<-IRR #YR->	10	Shares	3.71%	CDN$
Increase	1.67%	2.05%	1.69%	0.97%	0.12%	0.31%	0.59%	0.74%	0.00%	10.60%	2.09%	-5.89%	-5.03%	-1.10%	0.00%	0.00%		0.18%	<-IRR #YR->	5	Shares	0.92%	CDN$
CF fr Op $M	$1,193.0	$968.0	$848.0	$175.0	-$137.0	$125.0	$99.0	$77.0	$79.7	$198.7	$456.8	$352.7	$361.9	$287.1	$297.9			-57.32%	<-Total Growth	10	Cash Flow		CDN$
Increase	-15.21%	-18.86%	-12.40%	-79.36%	-178.29%	-191.24%	-20.80%	-22.22%	3.51%	149.31%	129.89%	-22.79%	2.61%	-20.66%	3.76%				S. Issues, S.O.		DRIP, Buy Backs		CDN$
5 year Running Average	$1,494.8	$1,237.2	$1,126.6	$918.2	$609.4	$395.8	$222.0	$67.8	$48.7	$115.9	$182.2	$233.0	$290.0	$331.4	$351.3			-74.26%	<-Total Growth	10	CF 5 Yr Running		CDN$
CFPS	$17.42	$13.85	$11.94	$2.44	-$1.91	$1.73	$1.37	$1.05	$1.09	$2.46	$5.54	$4.55	$4.91	$3.94	$4.09			-58.85%	<-Total Growth	10	Cash Flow per Share		CDN$
Increase	-16.60%	-20.49%	-13.85%	-79.56%	-178.19%	-190.96%	-21.26%	-22.80%	3.51%	125.41%	125.19%	-17.96%	8.04%	-19.78%	3.76%			-8.16%	<-IRR #YR->	10	Cash Flow	-57.32%	CDN$
5 year Running Average	$24.19	$18.79	$16.53	$13.31	$8.75	$5.61	$3.11	$0.94	$0.67	$1.54	$2.30	$2.94	$3.71	$4.28	$4.61			36.28%	<-IRR #YR->	5	Cash Flow	370.00%	CDN$
P/CF on Med Price	6.72	5.82	3.71	6.83	-20.61	7.65	16.61	1.70	0.59	1.24	2.03	2.20	1.80	1.78	0.00			-8.50%	<-IRR #YR->	10	Cash Flow per Share	-58.85%	CDN$
P/CF on Closing Price	4.24	4.48	1.43	3.36	-8.70	6.29	2.61	0.88	0.80	2.12	1.62	1.98	1.70	1.88	1.82			36.03%	<-IRR #YR->	5	Cash Flow per Share	365.71%	CDN$
															-1.74%	Diff M/C		-13.88%	<-IRR #YR->	10	CFPS 5 yr Running	-77.55%	CDN$
														$416.40	<-12 mths	4.73%
Excl.Working Capital CF	-$37.0	-$49.0	$32.0	-$31.0	$97.0	-$5.0	-$68.0	$40.0	$6.6	$5.1	-$34.8	-$13.6	$35.7	$0.0	$0.0			31.67%	<-IRR #YR->	5	CFPS 5 yr Running	295.73%	CDN$
CF fr Op $M WC	$1,156.0	$919.0	$880.0	$144.0	-$40.0	$120.0	$31.0	$117.0	$86.3	$203.8	$422.0	$339.1	$397.6	$287.1	$297.9			-54.82%	<-Total Growth	10	Cash Flow less WC		CDN$
Increase	-20.60%	-20.50%	-4.24%	-83.64%	-127.78%	-400.00%	-74.17%	277.42%	-26.24%	136.15%	107.07%	-19.64%	17.25%	-27.79%	3.76%			-7.64%	<-IRR #YR->	10	Cash Flow less WC	-54.82%	CDN$
5 year Running Average	$1,524.8	$1,218.2	$1,108.6	$911.0	$611.8	$404.6	$227.0	$74.4	$62.9	$111.6	$172.0	$233.6	$289.8	$329.9	$348.7			27.72%	<-IRR #YR->	5	Cash Flow less WC	239.83%	CDN$
CFPS Excl. WC	$16.88	$13.15	$12.39	$2.01	-$0.56	$1.67	$0.43	$1.60	$1.18	$2.52	$5.12	$4.37	$5.40	$3.94	$4.09			-12.56%	<-IRR #YR->	10	CF less WC 5 Yr Run	-73.86%	CDN$
Increase	-21.91%	-22.10%	-5.83%	-83.79%	-127.74%	-399.06%	-74.32%	274.64%	-26.24%	113.51%	102.82%	-14.62%	23.46%	-26.98%	3.76%			31.25%	<-IRR #YR->	5	CF less WC 5 Yr Run	289.46%	CDN$
5 year Running Average	$24.77	$18.52	$16.26	$13.21	$8.77	$5.73	$3.19	$1.03	$0.86	$1.48	$2.17	$2.96	$3.72	$4.27	$4.58			-7.97%	<-IRR #YR->	10	CFPS - Less WC	-56.44%	CDN$
P/CF on Med Price	6.72	5.82	3.71	6.83	-20.61	7.65	16.61	1.70	0.59	1.24	2.03	2.20	1.80	1.78	0.00			27.48%	<-IRR #YR->	5	CFPS - Less WC	236.72%	CDN$
P/CF on Closing Price	4.38	4.72	1.37	4.08	-29.79	6.56	8.35	0.58	0.74	2.06	1.75	2.06	1.55	1.88	1.82			-13.72%	<-IRR #YR->	10	CFPS 5 yr Running	-77.13%	CDN$
*Operational Cash Flow per share			CF/-WC	P/CF Med	10 yr	1.92	5 yr	1.80	P/CF Med	10 yr	1.92	5 yr	1.80		-1.74%	Diff M/C		29.29%	<-IRR #YR->	5	CFPS 5 yr Running	261.26%	CDN$
Chge in non-cash WC
			-71.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	73.7								Shares
								-73.0	0.0	0.0	0.0	0.0	73.7								Shares
			-$848.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$361.9								Cash Flow
								-$77.0	$0.0	$0.0	$0.0	$0.0	$361.9								Cash Flow
			-$11.94	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.91								Cash Flow per Share
								-$1.05	$0.00	$0.00	$0.00	$0.00	$4.91								Cash Flow per Share
			-$16.53	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.71								CFPS 5 yr Running
								-$0.94	$0.00	$0.00	$0.00	$0.00	$3.71								CFPS 5 yr Running
			-$880.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$397.6								Cash Flow less WC
								-$117.0	$0.0	$0.0	$0.0	$0.0	$397.6								Cash Flow less WC
			-$1,108.6	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$289.8								CF less WC 5 Yr Run
								-$74.4	$0.0	$0.0	$0.0	$0.0	$289.8								CF less WC 5 Yr Run
			-$12.39	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.40								CFPS - Less WC
								-$1.60	$0.00	$0.00	$0.00	$0.00	$5.40								CFPS - Less WC
			-$16.26	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.72								CFPS 5 yr Running
								-$1.03	$0.00	$0.00	$0.00	$0.00	$3.72								CFPS 5 yr Running
Change in non-cash working capital
Operating activities				$31.0	-$97.0	$5.0	$68.0	-$40.0	-$6.6	-$5.1	$34.8	$13.6	-$35.7
Sum				$31.0	-$97.0	$5.0	$68.0	-$40.0	-$6.6	-$5.1	$34.8	$13.6	-$35.7
Google --> TD 2016	$37.0	$49.0	-$32.0	$31.0	-$97.0	$5	$68	-$40	-$7	-$5	$35	$14	-$36								Google Finance
Difference				$0.0	$0.0	$0	$0	$0	$0	$0	$0	$0	$0
		$49	-$32	$31	-$97
		$0	$0	$0	$0
OPM	36.88%	34.22%	34.85%	14.74%	-22.53%	28.60%	22.30%	18.81%	28.94%	41.61%	50.91%	48.95%	44.27%	40.21%				27.01%	<-Total Growth	10	OPM		CDN$
Increase	-3.89%	-7.22%	1.86%	-57.70%	-252.84%	-226.94%	-22.05%	-15.63%	53.83%	43.79%	22.34%	-3.86%	-9.55%	-9.16%					Should increase		or be stable.		CDN$
Diff from Ave	28.2%	18.9%	21.1%	-48.8%	-178.3%	-0.6%	-22.5%	-34.6%	0.6%	44.6%	76.9%	70.1%	53.9%	39.8%				0.00	<-Median->	10	OPM		CDN$
*Operational Profit Margin (CF/Revenue) Ratio									OPM	10 Yrs	28.77%	5 Yrs	44.27%					should be	zero, it is a		check on calculations		CDN$
														$366	<-12 mths	-18.54%
EBITDA									$168.4	$260.8	$497.1	$403.9	$449.5	$359.0	$483.0						EBITDA	Fr Mkt Sc
Change										54.87%	90.61%	-18.75%	11.29%	-20.13%	34.54%			33.08%	<-Median->	4	Change
Margin									61.15%	54.62%	55.40%	56.05%	54.98%	50.28%	53.44%			55.40%	<-Median->	5	Margin
Comments									curr Portion	curr Portion
Long Term Debt			$2,149.0	$1,940.0	$469.0	$328.0	$402.0	$27.0	$451.8	$391.0	$225.3	$218.0	$332.4	$350.4				-546.51%	<-Total Growth	10	Debt		CDN$
Change				-9.73%	-75.82%	-30.06%	22.56%	-93.28%	1573.33%	-13.46%	-42.38%	-3.24%	52.48%	5.42%				-0.12	<-Median->	10	Change		CDN$
Ratio to Market Cap			1.78	3.30	0.39	0.42	1.55	0.40	7.11	0.93	0.30	0.31	0.54	0.65				0.48	<-Median->	10	% of Market C.		CDN$
Assets/Current Liabilities Ratio			10.45	9.46	9.71	10.52	13.95	3.16	1.76	2.69	9.89	9.78	7.68	6.93				9.58	<-Median->	10	Assets/Current Liab. Ratio
Debt to Cash Flow (Years)			2.53	11.09	-3.42	2.62	4.06	0.35	5.67	1.97	0.49	0.62	0.92	1.22				1.44	<-Median->	10	Debt to Cash Flow (Years)
Intangibles	$0	$0	$3	$11	-$3	$3	$4	$0	$6	$2	$0	$0	$0	$0				#DIV/0!	<-Total Growth	10	Intangibles		CDN$
Goodwill	$2,020	$1,912	$734	$11	-$3	$3	$4	$0	$6	$2	$0	$0	$0	$0				#DIV/0!	<-Total Growth	10	Goodwill		CDN$
Total	$2,020	$1,912	$737	$22	-$7	$5	$8	$1	$11	$4	$1	$0	$0	$0	<---Yes, 0			#DIV/0!	<-Total Growth	10	Total		CDN$
Change	0.00%	-5.35%	-61.48%	-96.99%	-130.88%	176.65%	54.75%	-91.36%	1516.65%	-65.29%	-74.94%	-100.00%	0.00%	0.00%				-70.11%	<-Median->	10	Change		CDN$
Ratio to Market Cap	0.40	0.44	0.61	0.04	-0.01	0.01	0.03	0.01	0.18	0.01	0.00	0.00	0.00	0.00				0.01	<-Median->	10	% of Market C.		CDN$
Current Assets	$706	$463	$410	$305	$341	$189	$76	$169	$58.9	$87.1	$100.3	$94.6	$492.1	$490.7				Liquidity ratio of 1.5 and up, best					CDN$
Current Liabilities	$907	$754	$943	$626	$344	$286	$190	$603	$547.6	$530.5	$222.9	$230.0	$275.3	$313.8				0.43	<-Median->	10	Ratio		CDN$
Liquidity Ratio	0.78	0.61	0.43	0.49	0.99	0.66	0.40	0.28	0.11	0.16	0.45	0.41	1.79	1.56				0.41	<-Median->	5	Ratio		CDN$
Liq. with CF aft div	1.52	1.28	1.04	0.63	0.59	1.10	0.92	0.41	0.25	0.54	2.50	1.94	3.10	2.48				1.94	<-Median->	5	Ratio
Liq. CF re  Inv+Div	1.14	0.95	0.93	0.63	0.59	0.98	0.50	0.35	0.23	0.42	1.08	0.85	1.21	2.48				0.85	<-Median->	5	Ratio
Curr Long Term Debt		$64.0	$283.0	$222.0	$222.0	$31.0	$17.0	$434.0	$451.8	$391.0	$0.0	$2.0	$3.0	$0.0
Liquidity Less CLTD		0.67	0.62	0.75	2.80	0.74	0.44	1.00	0.61	0.62	0.45	0.41	1.81	1.56
Liq. with CF aft div		1.40	1.48	0.98	1.67	1.23	1.01	1.46	1.45	2.05	2.50	1.96	3.14	2.48
Assets	$14,491	$12,329	$9,852	$5,924	$3,339	$3,008	$2,650	$1,904	$964.1	$1,429.2	$2,204.3	$2,250.4	$2,114.6	$2,173.5				Debt Ratio of 1.5 and up, best					CDN$
Liabilities	$5,617	$4,816	$4,270	$2,989	$1,092	$842	$782	$812	$641.0	$665.7	$624.6	$606.6	$708.8	$761.7				3.02	<-Median->	10	Ratio		CDN$
Debt Ratio	2.58	2.56	2.31	1.98	3.06	3.57	3.39	2.34	1.50	2.15	3.53	3.71	2.98	2.85				2.98	<-Median->	5	Ratio		CDN$
Book Value	$8,874	$7,513	$5,582	$2,935	$2,247	$2,166	$1,868	$1,092	$323.1	$763.5	$1,579.7	$1,643.8	$1,405.8	$1,411.8	$1,411.8	$1,411.8		-74.82%	<-Total Growth	10	Book Value		CDN$
Book Value per share	$129.61	$107.53	$78.57	$40.91	$31.29	$30.06	$25.77	$14.96	$4.43	$9.45	$19.16	$21.19	$19.08	$19.37	$19.37	$19.37		-75.72%	<-Total Growth	10	Book Value per Share		CDN$
Change	-3.74%	-17.04%	-26.93%	-47.93%	-23.53%	-3.91%	-14.26%	-41.97%	-70.41%	113.65%	102.66%	10.57%	-9.95%	1.55%	0.00%	0.00%		-62.07%	P/B Ratio		Current/Historical Median		CDN$
P/B Ratio (Median)	0.88	0.71	0.58	0.34	0.37	0.42	0.28	0.18	0.16	0.33	0.54	0.45	0.51	0.36				1.01	P/B Ratio		Historical Median
P/B Ratio (Close)	0.57	0.58	0.22	0.20	0.53	0.36	0.14	0.06	0.20	0.55	0.47	0.42	0.44	0.38	0.38	0.38		-13.20%	<-IRR #YR->	10	Book Value per Share	-75.72%	CDN$
Change	-45.67%	1.24%	-62.51%	-7.54%	164.90%	-31.50%	-61.87%	-55.11%	216.17%	180.30%	-14.95%	-9.46%	3.26%	-12.59%	0.00%	0.00%		4.99%	<-IRR #YR->	5	Book Value per Share	27.56%	CDN$
Leverage (A/BK)	1.63	1.64	1.76	2.02	1.49	1.39	1.42	1.74	2.98	1.87	1.40	1.37	1.50	1.54				1.50	<-Median->	10	A/BV		CDN$
Debt/Equity Ratio	0.63	0.64	0.76	1.02	0.49	0.39	0.42	0.74	1.98	0.87	0.40	0.37	0.50	0.54				0.50	<-Median->	10	Debt/Eq Ratio		CDN$
Sharerholders Equity (Assets less liabilities)									P/BV	10 yr Med	0.35	5 yr Med	0.45		9.07%	Diff M/C		1.63	Historical	30	A/BV
			-$78.57	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$19.08
								-$14.96	$0.00	$0.00	$0.00	$0.00	$19.08
														-$199.1	<-12 mths	1.73%
Comprehensive Income	$174.00	-$809.00	-$1,733	-$2,646	-$696	-$84	-$305	-$788.3	-$771.7	$414.0	$810.1	$108.0	-$202.6					88.31%	<-Total Growth	10	Comprehensive Income		CDN$
Increase	-72.73%	-564.94%	-114.22%	-52.68%	73.70%	87.93%	-263.10%	-158.46%	2.11%	153.65%	95.68%	-86.67%	-287.59%					2.11%	<-Median->	5	Comprehensive Income		CDN$
5 Yr Running Average	$450	$17	-$301	-$875	-$1,142	-$1,194	-$1,093	-$904	-$529	-$307	-$128	-$46	$72					-19.32%	<-IRR #YR->	10	Comprehensive Income	88.31%	CDN$
ROE	2.0%	-10.8%	-31.0%	-90.2%	-31.0%	-3.9%	-16.3%	-72.2%	-238.8%	54.2%	51.3%	6.6%	-14.4%					-23.79%	<-IRR #YR->	5	Comprehensive Income	74.30%	CDN$
5Yr Median	2.8%	2.0%	2.0%	-10.8%	-31.0%	-31.0%	-31.0%	-31.0%	-31.0%	-16.3%	-16.3%	6.6%	6.6%					#NUM!	<-IRR #YR->	10	5 Yr Running Average	123.79%	CDN$
% Difference from NI	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%					#NUM!	<-IRR #YR->	5	5 Yr Running Average	107.92%	CDN$
Median Values										Diff	5, 10 yr	0.0%	0.0%					6.6%	<-Median->	5	Return on Equity
			$1,733.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	-$202.6
								$788.3	$0.0	$0.0	$0.0	$0.0	-$202.6
			$300.8	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$71.6
								$903.9	$0.0	$0.0	$0.0	$0.0	$71.6
Current Liability Coverage Ratio	1.27	1.22	0.93	0.23	-0.12	0.42	0.16	0.19	0.16	0.38	1.89	1.47	1.44	0.91							CFO / Current Liabilities
5 year Median	1.34	1.27	1.22	1.08	0.93	0.42	0.23	0.19	0.16	0.19	0.19	0.38	1.44	1.44				0.31	<-Median->	10	Current Liability Cov Ratio
Asset Efficiency Ratio	7.98%	7.45%	8.93%	2.43%	-1.20%	3.99%	1.17%	6.14%	8.95%	14.26%	19.14%	15.07%	18.80%	13.21%							CFO / Total Assets
5 year Median	9.34%	8.47%	8.47%	7.98%	7.45%	3.99%	2.43%	2.43%	3.99%	6.14%	8.95%	14.26%	15.07%	15.07%				7.5%	<-Median->	10	Return on Assets
Return on Assets ROA	1.20%	-6.56%	-17.59%	-44.67%	-20.84%	-2.79%	-11.51%	-41.40%	-80.04%	28.97%	36.75%	4.80%	-9.58%	1.33%				Net	Income/Assets		Return on Assets		CDN$
5Yr Median	1.69%	1.20%	1.20%	-6.56%	-17.59%	-17.59%	-17.59%	-20.84%	-20.84%	-11.51%	-11.51%	4.80%	4.80%	4.80%				-10.5%	<-Median->	10	Asset Efficiency Ratio		CDN$
Return on Equity ROE	1.96%	-10.77%	-31.05%	-90.15%	-30.97%	-3.88%	-16.33%	-72.19%	-238.84%	54.22%	51.28%	6.57%	-14.41%	2.05%				Net Inc/	Shareholders' equity		Return on Equity		CDN$
5Yr Median	2.76%	1.96%	1.96%	-10.77%	-30.97%	-30.97%	-30.97%	-30.97%	-30.97%	-16.33%	-16.33%	6.57%	6.57%	6.57%				-15.4%	<-Median->	10	Return on Equity		CDN$
														-$199.1	<-12 mths	1.73%
Net Income	$174	-$809	-$1,733	-$2,646	-$696	-$84	-$305	-$788.3	-$771.7	$414.0	$810.1	$108.0	-$202.6	$29.0	$90.1			88.31%	<-Total Growth	10	Net Income		CDN$
Increase	-72.73%	-564.94%	-114.22%	-52.68%	73.70%	87.93%	-263.10%	-158.46%	2.11%	153.65%	95.68%	-86.67%	-287.59%	114.31%	210.66%			EPS/CF Ratio should not be higher than 1.00					CDN$
5 Yr Running Average	$450	$17	-$301	-$875	-$1,142	-$1,194	-$1,093	-$904	-$529	-$307	-$128	-$46	$72	$232	$167			-19.32%	<-IRR #YR->	10	Net Income	88.31%	CDN$
Operating Cash Flow	$1,193.0	$968.0	$848.0	$175.0	-$137.0	$125.0	$99.0	$77.0	$79.7	$198.7	$456.8	$352.7	$361.9					-23.79%	<-IRR #YR->	5	Net Income	74.30%	CDN$
Investment Cash Flow	-$305.0	-$264.0	-$113.0	$196.0	$1,310.0	-$34.0	-$161.0	-$101.0	-$66.2	-$156.6	-$290.8	-$293.6	-$430.5					#NUM!	<-IRR #YR->	10	5 Yr Running Ave.	123.79%	CDN$
Total Accruals	-$714	-$1,513	-$2,468	-$3,017	-$1,869	-$175	-$243	-$764	-$785	$372	$644	$49	-$134					#NUM!	<-IRR #YR->	5	5 Yr Running Ave.	107.92%	CDN$
Total Assets	$14,491	$12,329	$9,852	$5,924	$3,339	$3,008	$2,650	$1,904	$964	$1,429	$2,204	$2,250	$2,115						Balance Sheet		Assets		CDN$
Accruals Ratio	-4.93%	-12.27%	-25.05%	-50.93%	-55.97%	-5.82%	-9.17%	-40.14%	-81.44%	26.02%	29.22%	2.17%	-6.34%					2.17%	<-Median->	5	Ratio		CDN$
EPS/CF Ratio	0.15	-0.89	-1.98	-18.38	17.47	-0.71	-1.40	-6.74	-8.91	2.12	1.88	0.29	-0.49					-0.60	<-Median->	10	EPS/CF Ratio
			$1,733	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$203
								$788	$0	$0	$0	$0	-$203
			$301	$0	$0	$0	$0	$0	$0	$0	$0	$0	$72
								$904	$0	$0	$0	$0	$72
Change in Close	-47.70%	-16.00%	-72.60%	-51.85%	102.56%	-34.18%	-67.31%	-73.95%	-6.45%	498.85%	72.36%	0.11%	-7.01%	-11.24%	0.00%	0.00%			Count	30	Years of data		CDN$
up/down	down		up	up	up	up	up	up	up	up	Down	Down		up					Count	24	80.00%		CDN$
Meet Prediction?	Yes				Yes					Yes								% right	Count	10	41.67%		CDN$
Financial Cash Flow	-$888	-$704	-$668	-$436	-$1,164	-$100	$60	$27	-$8.1	-$42.9	-$172.5	$59.4	$67.6						C F Statement		Financial Cash Flow		CDN$
Total Accruals	$174.0	-$809.0	-$1,800.0	-$2,581.0	-$705.0	-$75.0	-$303.0	-$791.3	-$777.1	$414.8	$816.6	-$10.5	-$201.6								Accruals		CDN$
Accruals Ratio	1.20%	-6.56%	-18.27%	-43.57%	-21.11%	-2.49%	-11.43%	-41.56%	-80.60%	29.02%	37.05%	-0.47%	-9.53%								Ratio		CDN$
Cash	$0.00	$0.00	$67.00	$2.00	$11.00	$2.00	$0.00	$3.0	$8.1	$7.3	$0.8	$0.5	-$0.5	$0.3							Cash		CDN$
Cash per Share	$0.00	$0.00	$0.94	$0.03	$0.15	$0.03	$0.00	$0.04	$0.11	$0.09	$0.01	$0.01	-$0.01	$0.00				$0.01	<-Median->	5	Cash per Share		CDN$
Percentage of Stock Price	0.00%	0.00%	5.54%	0.34%	0.92%	0.25%	0.00%	4.42%	12.75%	1.74%	0.11%	0.07%	-0.08%	0.06%				0.11%	<-Median->	5	% of Stock Price		CDN$
	Yes	Yes
Taxes
Foreign
Cap Gain
Other Income
Ret of Cap.
Total
Foreign
Cap Gain
Other Income
Ret of Cap.
Total
For Tax Cr
Notes:
July 7, 2025.  Last estimates were for 2024, 2025 of $826M, $1084M Revenue, $5.75, $7.20, $6.75 for CFFO, $2.12, $3.29 EPS, $117M, $123M FCF,
$5.77, $7.13, $6.75 CFPS, 2024/6, $449M, $565M EBITDA, $166M, $251M Net Income.
July 3, 2024.  Last estimates were for 2023 and 2024 of $775M, $857M Revenue, $1.94, $2.80, $3.37 2023/5 EPS, $90.3M, $186M, $231M 2023/5 FCF, $
4.52, $5.30 CFPS, $220M, $267M Net Income.
July 7, 2023.  Last estimates were for 2022 and 2023 of $637N and $575M for Revenue, $3.93 and $3.46 for EPS, $197M, $294M and $290M for 2022/4 for FCF,
$6.44, $7.24 and $6.94 2022/4 for CFPS, and $199M, $163M for Net Income.
July 9, 2022.  Last estimates were for 2021, 2022 and 2023 of $370M and $389M for Revenue for 2021-22, $0.76 $0.76 and $1.52 for EPS, $25M, $64.5M and $80M for FCF, $2.52, $2.80 and 3.35 for CFPS.
January 31, 2022.  Stock is back on NYSE as OBE.
July 10, 2021.  Last estimates were for 2020 and 2021 of $236M, $282.5M for Revenue, -$12.80 and -2.08 for EPS, -$48M, -$18m and -$46M for FCF for 2020 to 2022, $0.50, $0.57 and $0.61 for CFPS for 2020 to 22.
July 12, 2020.  Last estimates were for 2019 and 2020 of $375 and $637 for Revenue, -$0.13 and -$0.12 for EPS.
April 1, 2020.  Stock is delisted from NYSE and is now OTC and OBELF.
July 20, 2019.  Last estimates were  for  2018, 2019 and 2020 of $425M, $463M and $497M for Revenue, $-$0.27, -$0.13 and -$0.12 for EPS, $0.30, $0.48 and $0.49 for CFPS and $-80.5M and -$65.2M for Net Income for 2018 and 2019.
July 20, 2018.  Last estimates were for 2017, 2018 and 2019 of $436M, $505M and $488M for Revenue, -$0.24, -$0.10 and $0.03 for EPS, $0.35, $0.38 and $0.43 for CFPS, -$13.4M, -$10.3M and $22M for Net Income.
July 22, 2017.  Lasty estimates were for 2016, 2017 and 2018 of $674M, $765M and $509M for Revenue, $0.067 and $0.63 for 2016 and 2017 for FFO, -$0.55, -$0.24 and -$0.10 for EPS,
$0.27, $0.28 and $0.36 for CFPS and $-$285M, -$96M and -$11M for Net Income.
June 26, 2017.  This company changed its name from Penn West Petroleum Ltd. (TSX-PWT, NYSE-PWE) to Obsidian Energy Ltd TSX-OBE, NYSE-OBE).  Web site used to be www.pennwest.com.
July 17, 2016.  Last estimates were for 2015, 2016 and 2017 of $1419M, $1595M and $1896M for Revenue, $-0.85, $-0.27 and $-0.10 for EPS, $0.77, $1.02 and $1.20 for CFPS and $-423M, $-105M and $-53M for net income.
July 26, 2015.  Last estimates were for 2014, 2015 and 2016.  Revenue was $2376M, $2282M and $2474M; EPS was -$0.01, $0.23 and $0.07; CFPS was 2.09, $1.94 and $2.10 and Net Income for 2014 and 2015 was $76M and $134M.
In 2015 I did update 2013 data because they put out new restated financial statements for 2013.
July 06, 2014.  There were no estimates for 2012 to 2014.
December 30, 2012.  The last time I got estimates they were for 2011 and 2012 of $6881M and $3945M for revenue $3.22 and 380 for Adj FFO, $1.22 and $.90 for EPS and $3.22 and $3.80 for CF
Oct 2, 2011.  Last I looked I got estimates for 2010 and 2011 of $3.72 and $3.17 FFO, $.07 and $.47 Earnings and $3.30 abd $3.85 for CF
Distributable cash has turned into Cash Flow, so I do not need separate item for Distributable cash and can use CF.
2011. Company changed to Corporation of Penn West Petroleum from Penn West Energy Trust  and symbols of PWT.UN to PWT
May 19, 2010.  When I last looked at this stock I got estimates for earnings of $.16 and $.46 and Cash Flow of $3.57 and $3.80.  2010 estiamtes are down and 2011 up, a bit.
Apr 18, 2010.  When I last looked at this stock, I got estimates for 2009 and 2010 of $3.14 and $4.00 for distri income, $-.037 and $.36 for earnings and $3.58 and $3.61 for Cash Flow.
They will convert to a corporation by mid-2011.  Makes no reference to what distributions will be after conversion.  Distributions will probably fluctuation to the price of oil and gas.
Sep 2009.  When I last looked at this stock in May 2009, people thought that this stock would make modest earnings for 2009 at $.08.  However, now most analyst feel this stock will lose money in 2009.
However, earnings for 2010 has gone up a bit. What is also interesting is that this stock has gone down in CDN$, but remained the same in US$.
May 9, 2009 AR 2008.  No record of receiving notice of annual meeting for 2008.
The new tax rules on Unit Trust companies applies to this company.  The distributions, will in probablity be reduced after2011.  Company has not yet decided to convert to a corporation or not.
AP 2007.  It is an oil play and as such as not done badly. Everyone seems to have a Hold recommendation (April 2008) on this stock.  Do not know why, but EPS
has dropped 77% from $3.27 to  $.73.  Tax wise, all dividends are fully taxable, which is a negative.  But I have little in this stock. $5,000 and have done ok, especially last 5 yrs.
AP 2005.  Stock is oil so volatile.  However I do not have much Oil stocks, and this is not a bad one to hold.  Should even out # of shares held.
I reason I have this stock is to keep track of the Oil and Gas industry in Alberta.
2006. This spreadsheets follows the stock from Petrofund into Penn West.  The exception is where it says it is following the stock from Maximum through to Penn West.
This has gone through several changed changes.  Used to be NCE Petrofund.  Petrofund Energy merged with Penn West in July 2006 and I got .6 of a share for each share I had.
Sector:
Energy, Resources
What should this stock accomplish?
Would I buy this company and Why.
I tend to like dividend paying companies and this company currently pays no dividends, although it might again in the future.
Why am I following this stock.
I bought this stock as Maximum Energy Trust (MXT.UN) in 1998. In November 2001, there was a stock exchange and the stock became Ultimate Energy Fund.
In June 2004 fund changed from Ultimate Energy Income Trust to Petrofund Energy.
Petrofund Energy merged with Penn West in July 2006.
The company changed its name from Penn West Petroleum Ltd. (TSX-PWT, NYSE-PWE) to Obsidian Energy Ltd (TSX-OBE, NYSE-OBE) in 2017.
I sold my shares in 2010.  Penn West is changing to a corporation, but they are also getting back into exploration, rather than just selling oil from their wells.
It is time to sell.  They also just reduced their dividends from $.15 per share per month to $.09 per share per month.
Dividends
Dividends are paid quarterly in cycle 1 that is January, April, July and October.  Dividends are declared in one month and paid in the following month.
For exaple, the dividend paid on January 15, 2014 was declared for shareholders of record of December 31, 2013.
Why I bought this stock.
I bought this stock as Maximum Energy Trust (MXT.UN) in 1998.  I sold this stock of Penn West in 2010 as it was changing to a corporation, but they are also getting back
into exploration, rather than just selling oil from their wells.  They also just reduced their dividends from $.15 per share per month to $.09 per share per month.
How they make their money
Obsidian Energy Ltd is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is
exploration, development, and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.
The company generates the majority of the revenue from the Crude oil sale.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
				Up to 2018	Adj for Con.
Shares; '%, Value $M	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M			Shares	%, Val $M			Change
Date	2017	Jul 20	2018	Jul 20	2019	Jul 12	2020	Jul 10	2021	Jul 9	2022	Jul 7	2023	Jul 7	2024			Jul 7	2025
Loukas, Stephen E.				3.575	4.90%	4.029	5.52%	4.378	5.42%	4.543	5.51%	4.708	6.07%	4.755	6.45%			4.770	6.55%		Interim CEO 2020	0.32%
CEO - Shares - Amount					$3.325		$3.506		$22.810		$40.797		$42.329		$39.753				$35.397		was an officer 2019
Options - percentage				0.009	0.01%	0.094	0.13%	0.889	1.10%	0.701	0.85%	0.801	1.03%	1.182	1.60%			1.558	2.14%			31.75%
Options - amount					$0.008		$0.082		$4.633		$6.292		$7.201		$9.884				$11.558
Faust, Michael J.				0.018	0.02%
CEO - Shares - Amount					$0.017
Options - percentage				0.104	0.14%
Options - amount					$0.096
French, David L.	0.00%	0.050	0.07%
CEO - Shares - Amount	$0.007		$0.18																		bought in 2017
Options - percentage	0.04%	0.193	0.27%
Options - amount	$0.343		$0.69
Scott, Peter D.						0.000	0.00%	0.080	0.10%	0.097	0.12%	0.101	0.13%	0.172	0.23%			0.202	0.28%		Cannot find 2020	17.60%
CFO - Shares - Amount							$0.000		$0.416		$0.873		$0.908		$1.434				$1.497
Options - percentage						0.000	0.00%	0.393	0.49%	0.422	0.51%	0.405	0.52%	0.311	0.42%			0.345	0.47%			10.92%
Options - amount							$0.000		$2.047		$3.790		$3.645		$2.597				$2.556
Sykes, Gareth Robin												0.076	0.10%	0.088	0.12%			0.125	0.17%			41.66%
Officer - Shares - Amount													$0.681		$0.738				$0.928
Options - percentage												0.551	0.71%	0.482	0.65%			0.517	0.71%			7.20%
Options - amount													$4.953		$4.029				$3.834
Hawkins, Mark Kristian Rodger								0.032	0.04%	0.047	0.06%	0.052	0.07%	0.062	0.08%			0.079	0.11%			27.22%
Officer - Shares - Amount									$0.169		$0.425		$0.467		$0.519				$0.586
Options - percentage								0.562	0.70%	0.597	0.72%	0.563	0.73%	0.458	0.62%			0.466	0.64%			1.64%
Options - amount									$2.929		$5.365		$5.063		$3.829				$3.455
Smith, Aaron				0.001	0.00%	0.014	0.02%	0.057	0.07%												Yes, 2019 and 2020 correct
Officer - Shares - Amount					$0.001		$0.012		$0.296												Ceases insider Jan 2022
Options - percentage				0.079	0.11%	0.066	0.09%	0.748	0.93%
Options - amount					$0.074		$0.057		$3.899
Brydson, John		0.365	0.50%	0.408	0.56%	0.408	0.56%	0.384	0.47%	0.409	0.50%	0.409	0.53%	0.492	0.67%			0.492	0.67%			0.00%
Director - Shares - Amount			$1.30		$0.379		$0.355		$1.998		$3.669		$3.673		$4.110				$3.647
Options - percentage		0.034	0.05%	0.049	0.07%	0.139	0.19%	0.422	0.52%	0.483	0.59%	0.498	0.64%	0.516	0.70%			0.533	0.73%			3.30%
Options - amount			$0.12		$0.046		$0.121		$2.199		$4.339		$4.478		$4.311				$3.952
Crossley, Raymond		0.003	0.00%	0.000	0.00%	0.003	0.00%	0.003	0.00%	0.005	0.01%	0.005	0.01%	0.005	0.01%			0.005	0.01%			0.00%
Director - Shares - Amount			$0.01		$0.000		$0.002		$0.014		$0.042		$0.042		$0.039				$0.035
Options - percentage		0.010	0.01%	0.021	0.03%	0.117	0.16%	0.246	0.30%	0.267	0.32%	0.273	0.35%	0.280	0.38%			0.288	0.40%			2.76%
Options - amount			$0.04		$0.019		$0.102		$1.282		$2.400		$2.452		$2.343				$2.137
Ritchie, Gordon Malcom				0.022	0.03%	0.022	0.03%	0.032	0.04%	0.042	0.05%	0.088	0.11%	0.106	0.14%			0.123	0.17%			16.47%
Chairman - Shares - Amt					$0.021		$0.019		$0.167		$0.378		$0.795		$0.885				$0.915
Options - percentage				0.010	0.01%	0.117	0.16%	0.298	0.37%	0.333	0.40%	0.343	0.44%	0.353	0.48%			0.364	0.50%			2.92%
Options - amount					$0.010		$0.102		$1.552		$2.993		$3.081		$2.954				$2.698
Thornton, Jay W.		0.041	0.06%
Chairman - Shares - Amt			$0.15
Options - percentage		0.022	0.03%
Options - amount			$0.08
Increase in O/S Shares	0.12%	0.225	0.31%	0.425	0.59%	0.538	0.74%	0.505	0.69%	1.357	1.68%	1.669	2.02%	0.230	0.30%			0.581	0.79%		Average	1.10%
due to SO 2013	$1.424		$2.460		$1.517		$0.500		$0.469		$7.068		$14.985		$2.067				$4.858
Book Value	$3.000		$4.000		$4.000		$2.000		$0.300		$2.600		$8.100		$0.600				$2.500
Insider Buying	-$2.567		-$1.994		-$0.967		$0.000		-$0.460		-$0.219		-$1.805		-$1.018				-$20.027
Insider Selling	$0.286		$0.000		$0.195		$0.000		$1.275		$1.278		$0.429		$0.525				$1.100
Net Insider Selling	-$2.280		-$1.994		-$0.771		$0.000		$0.815		$1.059		-$1.376		-$0.493				-$18.927
% of Market Cap	-0.29%		-0.77%		-1.14%		0.00%		0.19%		0.14%		-0.20%		-0.08%				-3.50%
Directors		10		8		8		6		7		7		7				7
Women	13%	1	10%	1	13%	1	13%	0	0%	1	14%	1	14%	1	14%			1	14%
Minorities	0%	0	0%	0	0%	0	0%	0	0%	0	0%	0	0%	0	0%			0	0%
Institutions/Holdings	21.16%	24	21.16%	131	15.85%	20	6.89%	20	1.52%	20	12.70%	20	3.18%	20	16.69%			20	24.28%
Total Shares Held	21.16%	0.000	0.00%	11.568	15.84%	5.030	6.89%	1.125	1.39%	10.423	12.64%	2.625	3.38%	12.780	17.34%			17.324	23.77%
Increase/Decrease	-0.23%	-0.035	-100.00%	-0.019	-0.16%	0.552	12.32%	-0.374	-24.96%	8.214	371.73%	0.301	12.93%	2.375	22.83%			4.728	37.54%
Starting No. of Shares		0.035		11.587		4.478	Top 20 MS	1.499	Top 20 MS	2.210	Top 20 MS	2.324	Top 20 MS	10.404	Top 20 MS			12.596	Top 20 MS
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My stock
																		08/01/98	-$4,739.000
																		03/11/10	$1,367.030
																		03/11/10	$2,307.010
																		-1.96%	XIRR
																		8.47%
																		10.43%	123.2%