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

TOP PICK

Will be a buyer on weakness. Just merged with Meridian (MDE-X). Doing 90 to 100 BOE's a day right now. Feels they can exit this year north of 12,000 BOE's a day. Some very high impact drilling potential.

BUY

Has been able to show good growth. Just completed an acquisition of Meridian Energy which will give them a good land base, so production will continue to grow. Trades around 20 X forward earnings which is about standard.

DON'T BUY

Just in the Merger/Aqcuisition time of the year, so companies are at a stage where they are hard to evaluate. Pretty much fully valued.

BUY

Junior oils is getting tougher to find a stock as a lot of them have coverted to royalty trusts. This is one of his favourites. It's in the process of closing an acquisition. Still in a growth phase. Have had great success on their drilling programs and production growth has been good.

SELL

Rock solid company. Possibly another 6-8months as a single entity until they sell.

TOP PICK

Company keeps on beating his numbers. Averaged higher production than he had expected at 5,048. Proven and probable reserves moved up 95% in '04. Proved reserves went up 88%. Will be merging with Meridian.

BUY

Just put in an offer for Meridian which is going to kick up their production about 3,800 barrels a day. The offer looks really good for the company. Widens their asset base. Getting closer to a trust possibility.

BUY

Prposed acquisition of Meridian Energy doesn't look like a bad deal at 3,800 barrels a day. True really hasn't done much. Drilling in relatively unexciting areas in Saskatchewan with 20% being heavy oil. A bread and butter kind of stock.

TOP PICK

Had expected them to average 5,000 BOE's a day in 2004 and exit the year at 6,200. Had actually exited at 6,300 and are currently at 6,500. What's exciting is their finding and developing costs are falling quite a bit. Revised figures will probably make this a $6 stock rather than the $5.04 target previously set. Low risk situation.

BUY

Still has room to run. Not his top favourite, but a close second. Good management.

DON'T BUY

The recent ramp up has been a little too much. Prefers Rider Resources which has also had a big ramp up, but have had a new major discovery which could turn into a company maker.

BUY

Feels that a lot of senior oils are in trouble by having a lot of difficulty in replenishing their reserves. Juniors are able to grow their companies a lot more effectively with growth in production and commodity prices. In the juniors, likes True Energy, Gentry and Endev.

TOP PICK

Have had significant production with about 6,100 barrels this year and looking for 7,500 or more next year. Good management. Relatively cheap to the rest of the group. Could ultimately be a trust.

BUY

Has traded at a real discount to its real value for some time and has now caught up to its value. Feels there is still a window of growth ahead. Could be a takeover or a trust.

STRONG BUY

Likes the story a lot. Should do on average 5,000 BOE's a day. Expects them to generate cash flow of $0.86 a year and almost $1 at the end of 2005.

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Bellatrix Exploration Ltd. (BXE.TO)