Opinions
Bill Bonner
Cequence Energy Ltd.
CQE-T
HOLD
Jan 07, 2015
$1.060
Stock price when the opinion was issued
oil
gas
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This company has a bond maturing next year and the performance of the stock has been poor. It has production of 6713 boed in Q4 down from 8609 boed the year before. The balance sheet has been the problem and people are worried whether they will be able to extend the bond. It is very high risk.
oil
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This was criticized for having 2 great assets. Sold one of them because no one believed they had the capital to develop both. They paid down all their debt and are now sitting with a great play at Simonette. This has multizone opportunity and they have infrastructure in place. They have gas gathering systems, processing capabilities, etc. Now they just have to throw some capital at it. He is very excited about how they can be looking 12 months out. With roughly 10,000-11,000 BOE’s a day, they may probably touch 15,000 this year, there is plenty of drilling opportunity left. Thinks it can be a 20,000 BOE a day producer. He loves the story. A target price of $1.50-$1.75 would not be unreasonable.