Irwin Michael, B.Com, MBA
Flint Energy Services Ltd
FES-T
PAST TOP PICK
Sep 09, 2011
(A Top Pick Oct 1/10. Down 28.05%.) Sold a large portion of his holdings at $18.50. Believes it is a $20 stock. Likes this company a lot. On the right track and making acquisitions.
Oil/gas services. Good company but is being outshone by a number of Calgary companies that are positioned in the sexier parts of the sector. Would prefer Canadian Energy Services (CEU-T) or Total Energy (TOT-T) instead.
Utility maintenance and drilling maintenance in the oil sands. Not widely followed. Excellent management. A lot of cash. Expect them to declare a dividend in the next 12 months.
(A Top Pick Oct 1/10. Up 6.31%) (3 Top picks are in the energy services sector, a lagging indicator of oil/gas.) Over 50% is oil sands servicing. Do a lot of utility servicing and trucking. Could be a takeover candidate.
7.5% June 2019 bond. This company has had a problem with their production services division. Had a couple of earnings misses and the stock got clobbered. Needed to raise money so they came out with this bond issue. Company should have a better back end of the year.
Fundamentally very cheap. On the right track. Revenues are probably through $2 billion. Have been remarkably conservative in terms of their outlook. Expecting will declare an initial dividend over the next 6-12 months and would be surprised if they buyback stocks. Trading roughly at BV. Likes this sector.