Stockchase Opinions

Malvin Spooner Compton Petroleum CMT-T DON'T BUY Jan 31, 2002

A good gas play, but wait for oil/gas recovery.
$3.580

Stock price when the opinion was issued

oil gas
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DON'T BUY
Gas producers in a very expensive area. Have had a very rocky past. Put themselves up for sale but unable to complete it. Have a lot of debt.
HOLD
Doing a lot of the things right. Debt is still high. A little more gas weighted. It has gone from a sell to a hold. A year or more of patients and you will be rewarded.
DON'T BUY
Exceedingly leveraged to gas. High operating costs. Balance sheet is exceedingly heavy and haven't seen evidence of them turning this around.
DON'T BUY
Not a better stock if you believe in $10 gas. Leverage has been an awful situation. Sold some assets so debt to cash flow is still unbelievably levered. Only catalyst for growth is the price of Natural Gas.
DON'T BUY
Would be one of his least favourite names in this space. High exposure to Natural Gas. Avoid.
DON'T BUY
Had too much debt on the balance sheet going into the lower gas prices. Trying to work out with this by selling assets. It's just a Call option.
SELL
Prefers oil to gas as gas is in for a difficult period. You have to be very selective on the type of companies for gas exposure. Look for ones that are operating in the top quartile. This one doesn't fit those criteria. Carry a lot of debt so he questions the real equity value.
SELL
One of the two most levered ways to play natural gas. He thinks gas will go lower and says the survival of the company is questionable.
SELL
Ran into production and management problems and very much on the gas side. Expect the company will have difficulty surviving. If you own consider for a tax loss.
DON'T BUY
One of the most levered natural gas companies in the universe. Very high risk. The value of the company is really in the debt.