CONNACHER OIL AND GAS LIMITED (CLC.TO) Buy,…

CONNACHER OIL AND GAS LIMITED (CLC.TO)

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43 watching

DON'T BUY

Looked at it in the past. Extraordinarily high leverage. Not a good mix with oil sands and soft oil prices. Management changes were positive for the company. Thinks some shareholders are pushing the company to a sale process, but he thinks it will not attract an international buyer.

HOLD

(Market Call Minute.) This is a Bull Market stock. They are undergoing strategic reviews. Market has imploded and they may have to delay the reviews. Very high risk stock.

DON'T BUY

(Market Call Minute.) Way too much debt. In this environment you can't own it.

DON'T BUY

Long-term chart shows a decline from early 2010. The 125 day moving averages is starting to turn up a little bit. You would like to see some support at just under $.80. If it doesn't hold at the $.79-$.80 level it will probably go a little bit lower. There are probably better opportunities elsewhere.

DON'T BUY

They are maximizing shareholder value. Production last week was lower than some were expecting. Oil sands projects did not life up to expectations so they are somewhat constrained. It is all about a sale and what they can get. Too Risky.

DON'T BUY

Debt to cash flow was known to be very high and finally CEO was asked to leave. The only concern he has now is that the stock has had a good run. Company is up for sale. If a bid came in below market value there would be pressure for the board to accept. Upside is limited. Take profits if you have them.

HOLD

Has being very volatile over the last couple of months. Has a lot of debt. Stock came off but when management implied that it might get taken out it went up but management has a chequered past. Thinks the company will get taken out but it is a matter of valuation but will probably be a higher price than at present.

PARTIAL SELL

Received an unsolicited offer recently, which they were not interested in. There has been a little resurgence of late because of the speculative thought. He thinks it highlights an exit strategy for this company. Relatively high amount of debt and disappointing production so far. If you own, look to lighten up over time.

WAIT

At $100 oil, it will start to look quite good for them. The have a huge debt to deal with. Stock is worth multiples of where it is now if oil goes up and would be ripe for a take over.

COMMENT

A small operator which has done quite well in the past as a stock. At the moment, oil sands are somewhat out of favour.

DON'T BUY

Very heavily in debt and their financing costs are very high. It is the subject of a potential acquisition. Has perennially not met its production targets on the boilerplate design of its facilities.

BUY

Has been a strong shift in strategy. Were taking cash flow from heavy oil and putting it into light oil with mixed success. He strongly disagreed with this because debt level was extremely high. Now stopped because they have $100 million convertible due June/12. Have $120 million now so they can easily pay this. Still thinks this name looks very good.

SELL

4.75% bonds maturing June 2012. Do I sell after the year-end payout, lock in my return and forgo the final payout? He would recommend that. Small company and its main assets are in the oil sands.

DON'T BUY

Has being on his stock watch list for a long time but he finds it incredibly confusing. They are undergoing such a transformation that he finds it really confusing. He wants the clouds to clear.

DON'T BUY

Too much debt and they really get hit when oil comes off. He wouldn’t touch it. It is not a busted company. The asset is real but there is too much debt. Someone could come after it but they just want the asset. They will pay cash.

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CONNACHER OIL AND GAS LIMITED (CLC.TO)