Opinions
Eric Nuttall
Painted Pony Energy
PONY-T
PAST TOP PICK
Sep 25, 2013
$7.950
Stock price when the opinion was issued
oil
gas
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BUY
They have significant assets in the core area that will benefit from LNG. They had a tough second quarter and production came in because they shut in some production. The fourth quarter is going to be good. He thinks they can buy down debt next year. It is a higher beta stock and not owned by institutions. They could be a takeover candidate 3 or 4 years down the road.
oil
gas
DON'T BUY
He is bullish on Albertan-based natural gas because we have declining production and supply, increased take away capacity and inventories are at a 10 year low. The winter will eventually come and then there is the prospect of depleting storage. A lot of Nat gas companies have hedged away their Alberta gas exposure. Pony still leaves him a little uncomfortable, however. He likes BRK-T, TOU-T and ARX-T. The balance sheet of PONY-T leaves him pause.
oil
gas
(A Top Pick September 19/12. Down 21.03%.) Great acreage in BC. Takeover target. Execution remains fine. Well results have been in line with expectations. Continues to delineate their acreage. Apathy to natural gas has caused many names to sell off. They have the ability to sell into a pipeline that isn’t as impacted by the wide basis differential so are getting a $.50-$.60 premium compared to other natural gas producers. Still likes.