Niko Resources (NKO.TO) Buy, Sell or Hold

Niko Resources (NKO.TO)

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TOP PICK

Very good explorer. Has a partnership with Reliance Energy in India on the D-6 block, a massive field. Should start to generate about $7 in earnings next year in free cash flow.

HOLD

Internationally focused in offshore India. Also building a pretty big reserve base in Indonesia. A little stretched at this level.

TOP PICK

There are a number of things they are going to drill on the upside. The big upside is that they are the operator of the play in Kurdistan. There will be a lot of cash flow coming out of India that they can then go and drill 7 or 8 high impact plays. If there is any success, then this stock goes higher.

RISKY

An international oil play. Stands out a little for the high risk play. It is statistically cheap, is exposed to higher prices. There is a little more room for increase in the short term and then there are more projects for the long term.

PAST TOP PICK

(A Top Pick July 25/08. Down 8.73%.) The D6 play in offshore India is on. Ramping up of the volumes will occur between now and the end of the year. Have a fixed contract for gas at $4.20. Look for an entry point anywhere below $70. (Doesn't own but has other relations with the firm.)

BUY

They have had disappointments in a couple of their explorations. Raise lots of money in 08 and starting to spend that money in Iraq and Indonesia. Won’t know for 12 months if any of those initiatives are worthwhile. Too early to judge. He likes it. Would be along term holder.

BUY

This is one of the juniors that you can play. Active in India and D6 is starting to produce for them.

BUY

Oil/gas in India. Great exploration assets. It is expected to continue to outperform.

PAST TOP PICK

(A Top Pick June 19/08. Down 22.66%.) The catalyst for this was to get D6 into production, which has now happened.

TOP PICK

Ramp up of production announced a while ago. Good price, sheltered from tax. Already working in projects in other countries. Major risk of getting project on line is over. Buy after a correction in oil prices.

PAST TOP PICK

(Top Pick Apr 4/08 Down 25.44%) Is still a top pick.

TOP PICK

(A Top Pick April 4/08. Down 22.4%.) Have a fabulous discovery on the east coast of India. Have brought it into production. D6 is going to ramp up to 300-400 million a day. Will be generating $400-$500 million of free cash flow. Have upside exploration potential in Madagascar, Pakistan, Kurdistan and Indonesia in 2010.

BUY

(Market Call Minute.) D6, which is their offshore block for India is really starting to come on line.

COMMENT

Have a huge land package in India. Solid balance sheet. Have a lot of cash and a lot of cash flow. He is looking at this one.

SHORT

There are a lot other energy names out there. You need to go to quality and great trading characteristics in this market. The better names are the big integrated oils right now. He would go to Suncor (SU-T), Husky (HSE-T), Imperial Oil (IMO-T) or Petro Canada (PCA-T) right now.

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Niko Resources (NKO.TO)