Opinions Wilf Gobert
Cyries Energy IncCYS.TOBUYApr 25, 2006
Natural gas weighted. If you want to be a contrarian, sell oil stocks and buy gas stocks. One of the better quality companies. Tremendous management team.
$14.45
Stock price when the opinion was issued
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HOLD
A deep value play. Merging with Iteration Energy (ITX-T). This will make it one of the larger intermediates in the Canadian oil space at about 20,000 BOE is a day. Liked it when it was a stand-alone company as it was very cheap. Will be a gas-focused company in Alberta and parts of Northeast B.C. Owning Iteration after the merger will be a great idea.
Dennis da SilvaOwned
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HOLD
Merging with Iteration Energy (ITX-T), which is a good move. The new company is a better one than the 2 parts. Solves a bit of the debt problem.
David CockfieldOwned
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PAST TOP PICK
(A Past Top Pick Dec 27/06. Down 53.7%.) A well run small cap, but gassy. Hasn't sold any of his shares. Still has the potential to recover.
David CockfieldOwned
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HOLD
One of the gassy stocks that has got caught in the big increase in drilling costs and the collapse in the natural gas prices. They are still doing okay, but they don't have the kind of cash flow to give them the drilling room that they need. It'll do just fine in a year or two. Good management and good properties. Could be used as a tax loss if needed.
David CockfieldOwned
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BUY
Juniors are getting hammered in this low-priced environment. This is one of the better juniors. Could be a good short-term trade that could be sold in December when the speculation on cold weather will be strongest.
John StephensonOwned
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TOP PICK
Undervalued story. Junior gas focused company with 70% gas in Alberta. Probably one of the best management teams in the patch. Has come down significantly from its highs. You now get it below NAV. Clean balance sheet. Could be a takeout candidate. Buy a little bit now and if Alberta does not implement the royalty review, buy more.
Adam ThomasOwned
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COMMENT
To play gas companies, you want to find high quality management teams that have low debt; low operating costs and are the best acquirers in the industry. ProEx (PXE-T), Nuvista (NVA-T), Cyries (CYS-T) andDuvernay (DDV-T) are 4 that fit, but he hasn't had a chance to look at the numbers on Cyries yet.
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BUY ON WEAKNESS
Drop in stock price is not a specific company problem that she can see. It was a market darling, which tends to overshoot on the way down. Will also overshoot on the way up in a stronger market. Suffers from low gas prices.
Jennifer StevensonOwned
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BUY
Natural gas. Problems in the 4th quarter. 1st quarter results were very good. Expecting big volume growth in the 2nd half of this year. The seasonal trade is starting now. Exit it coming of the summer.
Brendan KyneOwned
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TOP PICK
(A Top Pick Dec 7/06. Down 22.7%.) Very gassy and the incredibly long warm spell in December and January was a big problem. Growing by the drill bit. Have been able to acquire good assets in this down period.
David CockfieldOwned
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BUY
Has run into the typical problems that have plagued the juniors and have been unable to meet some of their objectives. They have the necessary properties and expertise to do better. Have been Buying. Good management.
David CockfieldOwned
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