Highpine Oil & Gas (HPX.TO) Buy, Sell or Hold

Highpine Oil & Gas (HPX.TO)

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4 watching

PAST TOP PICK

(A Top Pick Apr 13/06. Down 16%.) Has a lot of oil drilling prospects in the West Pembina area. Recently merged with Kick Energy that gives them a good slate of properties. One of the big concerns is that they continue to have trouble getting drilling licences. Still likes.

BUY

Oil levered.

HOLD

Have some huge opportunities in drilling. Recent stock price weakness has been a disappointment. Permitting, which has been going on for months and months, has slowed them down. Ran into some sulphur type problems. Will give them another 6 weeks before selling.Have some huge opportunities in drilling. Recent stock price weakness has been a disappointment. Permitting, which has been going on for months and months, has slowed them down. Ran into some sulphur type problems. Will give them another 6 weeks before selling.

TOP PICK

Higher risk/higher reward. Disappointed and lust in the 4th quarter when it wasn't able to reach the production numbers that was expected. Drilling in a tricky area that has sour gas. Geologically it is very exciting.

BUY

It has a great light oil leverage. Clean balance sheet. Expect to see gas prices considerably higher year or two out.

BUY

In the the Nisku layer in the Pembina area. It is capable of running well from here.

DON'T BUY

Was surprised when it dropped after making their acquisition. The problem is, they are in to the Pembina Misku play and they haven't handled their drilling of sulphurous oil. They are not getting licensing

TOP PICK

Has 200,000 net acres. It's expanding its production by about 120% next year which is considerably higher than any of its peers. Relatively cheap. 70% weighted to light oil.

BUY

Has a huge slate of about 60 drilling prospects. They need all their cash flow in order to drill all those wells, so don't expect they will be trusting any time in the near furture. If they get a hit, the wells are very prolific.

BUY

Good management. Made a recent acquisition which consolidated its area play. Not the cheapest stock around, but it's been public for less than a year. Have to give a little bit more time.

TOP PICK

Have a great portfolio of drilling prospects in front of them where they can materially increase their production over the next year. Have a large acreage position in a very hot play in Alberta called the West Pembina Nisku area.

BUY

Hasn't done that badly. Had some licensing problems in their Nisku play. Have some very good properties.

BUY

60 drilling locations. If successful in them the company will grow quickly. Excellent slate of exploration prospects ahead of them.

TOP PICK

Has a great land slate. A number of drilling locations in a very hot area. Have about 60 locations. Expecting great growth.

BUY

The combination of this company and Vaquero in the Pembina area are very positive. Thinks it will do well.

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Highpine Oil & Gas (HPX.TO)