Daylight Energy Ltd (DAY.TO)

DON'T BUY
Merging with Sequoia Oil & Gas Trust and will be known as Evergreen Energy Trust. It looked like a good deal at the beginning but terms have been changed because of production problems. That is disquieting.
SELL
Gas weighted. Would not be a name he would hold. Have had some problems with production misses. Not a very high reserve life. Would lighten up on it anytime there is an increase in the pricing.
DON'T BUY
Merged with Sequoia Oil & Gas Trust (SQE.UN-T). This will give them economies of scale, technical people being able to concentrate on the valuable assets. Not a favourite trust of his. Assets are not as good as other companies.
BUY
In the process of merging with Sequoia (SQE.UN-T) and will become a much bigger trust. Expects they will go for a US listing which probably would result in an uptick.
TRADE
"When you look at the asset base, Daylight Energy Trust has a lower quality dirty barrel". Their pay out ratio and balance sheet are very acceptable. This expert owns as a small cap name. Not excited about it.
DON'T BUY
His energy advisor sees the price point of natural gas being $6-6.50. This will hurt Daylight Energy and they will struggle. They may be looked as a take over target.
BUY
Likes this one. Missed a couple of its quarters which concerns him. Has a reasonably low payout ratio. The yield is okay. Not the top tier, but a good second-tier performer.
BUY
Payout ratio of about 39% with a yield of around 13%. Oil/gas trusts weakened substantially in late Oct. early Dec.
BUY
Trading slightly undervalued. Represents very good value. Looks like they can get some production growth over the next year.
HOLD
Probably in the middle of the pack. Not a screaming buy, but not a screamimg sell. A good hold. Pays a decent return. Spends 100% of its cash flow on distributions and capX. Good management team.
WEAK BUY
They practice a sustainability model. Was a trust out of a company called Midnight Oil (MOX-T) Assets not as high quality as some other trusts. Well managed. Missed their last quarter's cash flow numbers. Doing a review on them to see if this trend is going to continue.
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