Bellatrix Exploration Ltd. (BXE.TO) Buy, Sell…

Bellatrix Exploration Ltd. (BXE.TO)

0.38

-0.00 (0.00%)

as of Nov 8, 2019, 9:00:00 pm Market Open.

66 watching

BUY

Amalgamated with Tusk Energy (TSK-T) and created an exploreco, Vero (VRO-T). The metrics for the combination look pretty good. Has a large land base, a decent reserve life index of about 8.4 and fairly low debt levels.

BUY

True Energy (TUI-T) and TKE Energy (TKE.UN-T) are merging and he likes the deal. TKE by itself is about a 4,000 equivalent per day and this will go to about 14,000.

BUY

Turning into a trust. A more gassier company. Not a bad investment as a trust and spin out company.

BUY

TKE Energy Trust (TKE.UN-T) and True Energy (TUI-T) are entering into a merger. Likes this company and would buy the new exploreco that will be spun out.

BUY

Expects the price will go up to $6.75 and between now and Nov 1st it's not a bad rate of return. Getting access to the new exploreco will be valuable.

DON'T BUY

Combining with TKE (TKE.UN-T) to become a trust. The trust merger price has been fully discounted. Will be a good quality little trust. Doesn't expect anything spectacular from it. The spinout of the exploreco should be interesting.

BUY ON WEAKNESS

A nice, well managed, growing, gas oriented junior that's in the middle of doing a merger to turn itself into a trust. You'll have a trust and an exloreco. The latter will be another junior and it looks quite interesting. The value of the pieces might be $7 or so. If you're not interested in the trust, wait for the split and buy the exploreco.

HOLD

Recently trusted and spun off an exploreco. Big fans for a long time. Likes the team.

BUY

Has filed a plan of arrangement to convert to an energy trust and is well positioned to be a trust. Going to have a land base of 350,000 net acres. Reserve life of about 8.1 years. Has available cash to re-invest in its development as well as to acquire other fields or even other companies.

HOLD

Has just declared itself a trust. Would hold and just see where the exploreco and the trust goes. You'll get a little upside from here. Not a bad company.

BUY

Has been gathering momentum after a period of relatively slow growth.

TOP PICK

Still has a lot of legs. Exited Q2 at 9,000 BOE's a day. Will be reporting their Q2 results next week and thinks the cash flows will be very strong because of the big increase in production. By the end of the year if they do 12,000 BOE's a day they will be doing $1.20 in cash flow. Deserves a 6 or 7 multiple. Very cheap.

BUY

Had a big run, fell back, consolidated and then started to run again. Made a major acquisition in January, brought their production up smartly and they seem to be absorbing that. Touted as a potential income trust and there is some justification for that. Good value here.

BUY

A good solid one. Got ahead of itself so has pulled back. Now in a buying range.

BUY

Doing very well. Has a good track record. There aren't many natural gas companies you can invest in. Good value in its peer group.

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Bellatrix Exploration Ltd. (BXE.TO)