Chinook Energy Inc (CKE.TO) Buy, Sell or Hold

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Chinook Energy Inc (CKE.TO)

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0.07

+0.01 (7.69%)

as of Apr 22, 2020, 8:00:00 pm Market Open.

12 watching

HOLD

Sort of hit a wall when it bought Sequal. Gas prices also played a role. Up for sale but hard to put a price on what it should be worth. If you own, be patient for a couple of months.

COMMENT

This company will definitely get sold and the deadline has been extended to April 10. Good company, good properties and great management. They are gassy and are too small to take advantage of some of the good properties that they have. Hoping the sale price will be north of $2.

SELL

They recently put themselves up for sale. It’s a matter of what someone will pay for it. Will likely sell over the next 90 days. Hold if you are a long-suffering holder of it.

BUY

Saw an analyst increase estimates for the first time in 2 or 3 years. Doesn't have as much issue on their debt as everybody thinks. Poised to move significantly higher. On his short list.

SELL

Insider buying, which is positive. Good management team. Was slow getting into resource plays and then got caught up in some debt related issues. Thinks those things have been resolved. However gas weighted and not in the shale or resource to a large degree. Junior gas has come way too far too fast.

DON'T BUY

Small, well run gas company. Didn't hedge. Excellent positions in the Montney but is getting squeezed on the capital side. No cash flow because of low gas prices. Caught between a rock and a hard place. A gas price bounce to $6 will give them some lease in life but meantime production is probably going to fall. He is hoping for a takeover.

DON'T BUY

The operational performance just has not been there and the balance sheet has been a tremendous overhang. There are a lot of better places to safely sit.

DON'T BUY

Gas oriented. New management team really started to grow production substantially in the last year and did an excellent job. More recently did a number of acquisitions and took on more debt and this has hurt them in the marketplace. There are others with less debt and cheaper production costs.

DON'T BUY

Have done a disposition to help pay down the debt, which is very high at about 3X debt to cash flow. Very leveraged play to natural gas and a high cost producer. In a little bit of a pickle until gas prices improve.

PAST TOP PICK

(A Top Pick Aug 1/08. Down 84.2%.) Gassy.

DON'T BUY

Natural gas in storage is currently at 20% above the 5 year high. Cheap on its ratio compared to oil but there is a lot of gas coming out of the shale plays in the US. In the bottom 15% of his database.

HOLD

Natural gas focused. First-rate management team and good assets. Balance sheet was a little more levered than it should be but they did an equity issue and is now back on side. Expects natural gas prices to be low for the next 6 months.

BUY

Junior natural gas producer. The tide on natural gas is shifting in this provides a great opportunity.

PAST TOP PICK

(A Top Pick June 20/08. Down 84.41%.) Small gas play. Have land in the Montney. Good management. Doesn't have the cash flow to do what they want to do. He is hoping someone will buy the assets or the company.

DON'T BUY

Producing about 18,000 BOE's a day and just did a massive financing. She is disturbed by the lack of operational performance. Tough to see a growth story here.

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Chinook Energy Inc (CKE.TO)