Craig MacAdamDaylight Energy LtdDAY.TOTOP PICKNov 02, 2009
Acquisition of Highpine gave them a 30% weighting in oil. Will be able to take the cash flow from this and reinvest it in natural gas. Also has a lot of conventional acreage but new technology will make these plays a lot more profitable. 11.2% yield should be safe for the next 12 months. When they convert to a corp, dividend will probably go down but will be more than made up for in growth.
(Top Pick Jan 27/11, Up 7.62%) was taken out by a Chinese company. Didn’t predict it but clearly it was the smallest of the group. There will be more of a trend of this happening.
Being acquired by Sinopec International. He has tendered his holdings. When is a bid on the table and not likely to have counter bid, take the money and run.
Stock shot up when Sinopec Int made an offer to purchase at $10.08. If you own, he would suggest you take your money and run. There are still some regulatory hurdles.