Opinions
Bill Bonner
Mapan Energy Ltd
MPG-X
BUY
Jan 07, 2015
$1.110
Stock price when the opinion was issued
Oil and Gas (Integrated Oils)
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Shell Canada sold natural gas assets to Maplin Energy. Done through PI-X. This stock will turn into Maplin. It is a natural gas story with no debt. Deep basin. Good management team. It is a start up, a new story. Smaller market cap, no dividend. It trades at half the valuation of comparables. Once the market understands it, it should do quite well.
Oil and Gas (Integrated Oils)
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Management has a lot of experience in the world of natural gas and is a really good strategist. Have lots of running room in the assets they have acquired, but the rates of return they get on their projects aren’t of the 70%-80% higher ROE capabilities, but more like 30%-40%. They won’t hit grand slams, but will probably hit singles or doubles. He likes that. It is a more conservatively run business with a very well financed balance sheet. He would be pretty comfortable at today’s price.