Josef Schachter
Profound Energy Inc.
PFX-T
TOP PICK
Apr 04, 2008
Natural gas. Doing about 3500 BOE's a day. Just did an acquisition of Defiant Resources (DFR-T). With exploration and the acquisition, they should do 4500 BOE's a day by the end of the year. That should give about $1.50 in annualized cash flow making it about 2.5X cash flow and it deserves way more than that.
Doing about 2300 BOE's and think they will average 3600 in 2008, exiting at over 4000. The NAV is about $450. Good management team. Could be a very important name over the next 2 and 3 years in terms of the western basin.
Great management team with a good track record. Just acquired some companies so they are building up their asset base. From a multiple of cash flow and NAV, they're cheap.
Sold her holdings in the last 2 months. Looking for stocks were she could see some growth and potential upside in the next year. Balance sheet is a bit heavy. Assets are great and management team is first class.