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Stockchase Insights Orca Exploration Group (B) ORC.B-X RISKY Sep 30, 2024

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

The stock is VERY cheap and management has been in the business a long time, with some good successes at prior companies. However, the company is quite small ($65M) and its operations have more risk than Canadian producers, which are also very cheap. The balance sheet is fine, but with only two analysts it tends to get ignored in the market. With risk high we think larger, domestic names offer a better risk/reward set up.
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TOP PICK

(Formerly Eastcoast Energy (ECE.B-X)) Natural gas production in Tanzania. Fabulous expansion in gas reserves offshore. Contracts onshore for the gas. Have announced they are going back to West Africa.

BUY

Natural gas production in Tanzania, which is fairly settled. Extraordinarily good management. They will go back to West Africa and will buy assets on shore.

BUY

Very impressive management. Have an integrated offshore gas discovery on the east coast of Africa. Have announced they're going back to offshore west Africa. Should continue to be a great player in the market.

BUY

Tanzanian oil. Likes the story. A 2008 – 2009 story when the cash flow really kicks in.

PAST TOP PICK

(A Past Top Pick Nov 22/06. Up 7.7%.) (Formerly East Coast Energy.) The team that runs this are the people that ran Pan Ocean. Offshore Tanzania. A key supplier of natural gas to a Hydro Company. Has a low profile. Have not had any announcements lately. Still a Buy.

PAST TOP PICK

(A Top Pick Nov 22/06. Up 7.7%.) Recently announced a delay in the setting up of its gas plant in Tanzania. It will take time to get cash flows flowing through. Has an extraordinarily rich oil bearing territory in Uganda. Still a Buy.

RISKY

Has been hit by the market but also had a delay in the gas facilities in Tanzania. They are edging into the territory in Uganda where another company is having fabulous oil finds. They are also edging back to Gabon. Speculative.

COMMENT

(Market Call Minute.) Offshore gas in Tanzania.

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