Stockchase Opinions

Glenn MacNeill, P.Eng. Find Energy Ltd. FE-T BUY Jun 16, 2006

A pretty exciting small junior. Production has grown pretty dramatically. A good part of their production is gas so there has been some softness.
$9.240

Stock price when the opinion was issued

oil gas
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BUY
Has done a very good job of increasing its reserves. A very good balance sheet. Always meeting targets. One of the best juniors you could hold.
BUY
A big fan of this one. Expanding their facility at Pembina West to 50 million. Did 3246 BOE’s a day last year, exited at 5100 and he is using 6000 in his model and exiting at 8000 this year which gives cash flow of $1.85. Could be a takeover target.
BUY
One of the cheaper companies. Good balance sheet.
TOP PICK
This is how he will play a natural gas recovery. Solid team. Well-financed and they have access to rigs.
BUY
Westerly Canadian natural gas selling at a discount to net asset value. Has a clearly defined strategy to go forward. Great management and well-financed.
STRONG BUY
Should be a core holding in your junior group. Has one of the most capital efficient frameworks. Has lots of prospects. On a multiple/cash flow basis, it is trading well below the group. Expects there will be much higher gas prices.
SELL
Being acquired by Shiningbank Energy (SHN.UN–T). If you own, tender to the offer and move on to something else. This was more of an exploration company and Shiningbank is more for an income-oriented account.
PAST TOP PICK
(A Top Pick July 27/05. Up 81%.) Being acquired by Shiningbank (SHN.UN-T). He would take the offer and sell. Consider Duvernay (DDV-T) as an alternative.
PAST TOP PICK
(A Top Pick Oct 5/05.) Acquired and is now Shiningbank (SHN.UN-T).