DEBATE STARTER $CVE IS ROLLING IN WAR PREMIUM — BUT IT WON'T LAST Brent crude exploded past $120 on the Iran ceasefire collapse, pumping $CVE to | $35.94B (FY FY2025 40-F) :: Annual Revenue: $35.9B]] in annual revenue. Easy money? Think again. Here's the ugly truth: $CVE and its oil major peers are failing spectacularly at converting sky-high prices into actual profits. The topline numbers look sexy, but margins crawled up a pathetic 2-3% over the past year. Meanwhile, the stock rocketed 30%+ higher. Do the math. When geopolitical tensions cool and that war premium evaporates, these bloated energy darlings will crater. The fundamentals are screaming overvaluation, but the market's still drunk on headline revenue numbers.

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