Opinions Peter Hodson
Antrim EnergyAEN.VCOMMENTNov 26, 2007
Weak last week because Argentina changed some of the tax royalty rates for oil/gas production and their cash flow is from Argentina. All the upside for this company is in the North Sea, where they have had some great success. Market doesn't understand the big potential. Thinks Oilexco (OIL-T) would like to take a run at this company.
Peter HodsonOwned
$4.66
Stock price when the opinion was issued
oilgas
It's the ideal tool to help you make quicker, more informed decisions for managing and tracking your investments.
You might be interested:
TOP PICK
North Sea oil. Some production in Argentina but the real juice to the story is a development well that they are partnered with in the North Sea that is coming on in 2012 with a 2nd one in 2013. This will ramp up their cash flow and increase their production by 50%. Well-financed. Could pull back from here but would use that to accumulate.
Andrew CookOwned
oilgas
TOP PICK
Oil/gas producer in the North Sea and Argentina. 2012 production should increase by about a third over 2011. Stock is trading at significant discount to NAV. Have significant drilling opportunities coming up in the next 6 months. Fully funded.
Andrew CookOwned
oilgas
COMMENT
North Sea oil. Found a big play called the Causeway. Royal Bank of Scotland is pretty well owned by the government and they were the biggest lender to the North Sea so capital is very constrained in the North Sea is a very expensive place to do business. Big question is do they have the ability to bring on production in a complex project in the North sea.
oilgas
PAST TOP PICK
(A Top Pick Aug 27/08. Down 74.53%.) All the North Sea players fell out of bed when Oilexco collapsed but this one is a survivor and is still in business. Leverage to the upside for oil is still very big. If you believe in oil, the leverage will be quite substantial.
Peter HodsonOwned
oilgas
DON'T BUY
It’s just not getting any respect. Always thought this company would get taken over. It’s too late.
Peter HodsonOwned
oilgas
TOP PICK
Can't believe what has happened to the stock price. Fully financed and have great assets in the North Sea and Argentina. A hedge fund in the UK has been putting pressure on the stock. Trading at 1.25X cash flow on a 1-year basis with the net asset value in the $6-$7 range. Looking for it to get back to its old high.
Peter HodsonOwned
oilgas
COMMENT
About ready to start drilling on the Fine field in UK North Sea. If successful, they will have enough information to submit a field development plan to UK government. Also developing Causeway that is scheduled for production around the end of 2009. Have about 18 months before they see first oil. Likes the name, management and prospects but the market may work against it over the next year or so.
oilgas
BUY
Not producing yet but they have a multitude of plays. Will be doing a lot of drilling and some of their targets are worth the stock price. Some of the targets are low risk and can justify the stock price. Risk/reward is very attractive.
Jean-Francois TardifOwned
oilgas
