Bonavista Energy Corp (BNP.TO) Buy, Sell or…

Bonavista Energy Corp (BNP.TO)

0.04

-0.01 (11.11%)

as of Aug 14, 2020, 8:00:00 pm Market Open.

140 watching

BUY

2/3 gas and 1/3 oil. Overpaying distribution a little. Can do so because management has exchangeable shares. Model after 2011 will be a combination of growth plus distribution but have not made percentages clear so she thinks the 10% distribution will be cut. However not expensive. New play at Holdly (?) is fantastic and will work at $4 gas.

BUY

Very impressed with the acquisition they just did. Distribution is safe at this point. In 2011 they have the asset base to turn into a corporation that still pays a dividend.

BUY

Quality company. Recently acquired more natural gas assets. Very good operators. After they convert to a Corp., dividends will be lower than current distributions.

STRONG BUY

Very good holding. Planning on converting in early 2011 and maintain the current level of distribution. Recently acquired some gas assets from Encana (ECA-T). 9.6% yield.

TOP PICK

Very solid gas name. Did a great acquisition that will help them go past 2011. Economic returns look very good on the new acquisition.

WAIT

Low-cost operator. About 60% natural gas so is vulnerable to gas price changes. Recently made an acquisition and will be helped by a reduction in BC royalties. Very well managed. Waiting for gas prices to increase and a more positive outlook.

BUY

Solid company. If he were adding a name to his accounts this would be one that he would consider. The other one would be his Top Pick Arc Energy (AET.UN-T).

DON'T BUY

Not bullish on natural gas because LNG shipments keep increasing and shale gas has changed the game with increasing reserves. He sees natural gas staying below $5 for the rest of the year.

STRONG BUY

One of the top management teams. Recently acquired $700 million of primarily gas assets from Encana (ECA-T), which will really propel them into a new direction.

BUY

Very high quality oil/gas trust. Strong management team. High netbacks. Just bought a large amount of natural gas assets from Encana (ECA-T) and with new technology they feel results can be very significant.

BUY

(Market Call Minute.) Great management. Spends capital prudently.

BUY

Over half of their production and weight in volume is in natural gas. One of the more dominant trusts in the natural gas area. Distributable cash in units is well in excess of their payout. 10.4% yield. Have a good deal of tax pools so they will not be immediately taxable when they convert to a corporation.

BUY

This was a close 2nd to his Top Pick Daylight Energy. Gas oriented and he likes gas. Impressive management.

BUY

Very conservatively run with good cost control. 10.5% distribution is solid. Attractive growth profile.

BUY

(Market Call Minute.) A great oil company that has protected its balance sheet.

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Bonavista Energy Corp (BNP.TO)