Eric Nuttall
Lucero Energy
LOU-X
Unspecified
Oct 24, 2022
He owns it through an initial IPO. In six months it will be either much bigger or gone. The team can get the job done but it is in a tough market in North Dakota.
New company that was a re-cap of Petro Shale.
Largest shareholder of the company.
Waiting for company to find A&D opportunity.
33% free cash flow yield and 1.3x cash flow trading multiple.
Very big supporter of company.
Long term investment that is expecting to appreciate.
(A Top Pick Feb 23/22, Down 36%) Experienced management. In a hot geographical area for oil and gas, but investment moved away to more profitable areas when oil price declined. Working to ramp up production and strengthen balance sheet. Small cap, market's not interested. He's on the sidelines.
Strong management team with goal of buying new assets. US Bakken hard to buy assets in. Expectation is for company to sell if don't buy any assets. Well results have been strong, but unable to raise money on shares.