Opinions Mason Granger
Emerge Oil & Gas Inc.EME.TODON'T BUYMay 04, 2011
They reactivate old wells and bring them up. Have 300 or more cold heavy oil locations they can drill. Stubbed their toe a couple of times. Recently branched out to some light oil acquisitions. Had some management turnover.
$2.76
Stock price when the opinion was issued
Oil and Gas (Integrated Oils)
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Heavy oil producer in Saskatchewan. Doing a good job of assembling an inventory. Heavy oil in juniors doesn't tend to get the valuation or appreciation in the share price but this one should do well.
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Been buying over the last couple of days. $3-3.15 is a good entry point. Management is very competent. They have enough running room given their market cap.
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Heavy oil producer in eastern Alberta/western Saskatchewan with huge economic pools. Big drilling inventory ahead of them. Looking for 50% production growth over the next 12 months.
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Reasonable valuation at around 6.5-7 times cash flow based on $75 oil. Very good asset in the Lloyd Minster area using new technology. Should do well over the long term.
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Likes it because she likes heavy oil. Large contiguous asset base. Very repeatable. No exploration risk. Just drilling really boring 50 barrel per day oil wells. Makes tones of money and they can double their production this year. New public company and has not done marketing so it is undervalued.
NOTE: EME-T used to be the symbol for Emergis, which was acquired by Telus in 2008 and the symbol is now assigned to Emerge Oil and Gas.
Jennifer StevensonOwned
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