Petrominerales Ltd. (PMG.TO) Buy, Sell or Hold

Petrominerales Ltd. (PMG.TO)

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19 watching

DON'T BUY

Management is quite good, especially on the technical side. Concern that he has is the base decline on their production. They generate a lot of cash flow.

BUY ON WEAKNESS

Good upward trend from early 2009 followed by a drop earlier this year. Pretty good support around $23 with some resistance at around $34. Try to buy at the support level.

DON'T BUY

A little concerned that numbers haven't been that great recently. Good dividend. Would prefer Pacific Rubiales (PRE-T).

COMMENT

Market is not rewarding companies that are doing well because of what might happen in the future. This company has done nothing but create great, great results and beat expectations but the stock is not doing much. Stock price will go up $10-$15 in a good market.

TOP PICK

Oil and gas player in Columbia. Spin off from Petrobank. This stock took off way to high and started to come back. We just came back to the trend line. $32 is going to be the next resistance level. At $22 he would get out also.

BUY

(Market Call Minute.) Has done brilliantly in Columbia.

BUY

(Market Call Minute.) Likes it because there are big opportunities with the drill bit. Had some fabulous results in the recent couple of weeks.

TOP PICK

A true growth company. Average 4th quarter daily production from oil in Colombia was 22,000 and is currently 55,000. Their wells are so prolific that they are unhooking pipelines from old wells that are not producing enough. Great management. Will ultimately sell the company.

BUY

Reasonable growth ahead of it. Could be a takeout candidate.

COMMENT

Thinly traded because Petrobank (PBG-T) owns the majority of shares. Performing very well but most of the catalysts are out of it.

PAST TOP PICK

(A Top Pick Aug 14/09. Up 34.68%.) A Colombia player that will be very active over the next year. Still a Buy.

BUY

Of all the Colombian oil/gas plays, this has probably the most potential upside in terms of its drilling inventory. This would be a Buy and Hold.

TOP PICK

Have an active drilling program going forward. Very cheap at less than 3X debt adjusted cash flow. Have had a lot of success drilling in Colombia.

BUY

Colombia and Peru have some of the best royalty regimes in the world right now. Some good capital gains to be had out of growing production and this company has indicated it will do so. High margins and high economic values.

BUY

A Columbia subsidiary of Petrobank (PBG-T) and is one of his favourites in Western Canada. Good political changes and reforms. Have enormous prospects in an enormous amount of land.

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Petrominerales Ltd. (PMG.TO)