Pinecrest Energy (PRY.V) Buy, Sell or Hold

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Pinecrest Energy (PRY.V)

0.00

-0.00 (0.00%)

4 watching

BUY

(Market Call Minute)

DON'T BUY

(Market Call Minute) Wait for quarter to come out. Expects it to be pretty bad. Invest in other names.

PAST TOP PICK

(A Top Pick Oct 13/11. Down 5.2%.) Had weak results earlier this year but still have a concentrated play in one of the most highly economic oil plays in Canada. Looking for 40% production growth next year. Trading at it discount multiple because of the small cap stock at about 4.2 times.

BUY

Likes it. Most prolific wells in western Canada. 1500 barrels per day light oil. Buy half now and half later.

COMMENT

This one has been absolutely hammered. There is a perceived view that small caps are riskier. In the case of this company, they have the highest net backs (highest margins) of any Canadian oil company. Extraordinarily clean balance sheet. Can survive any low oil prices and will do well when oil improves. When they report, it probably won't be the greatest quarter but after that he would consider buying.

BUY ON WEAKNESS

Likes the Slave Point play, which is one of the most economic oil plays in Canada. This company has been doing a very good job of delineating the asset. Has and will be demonstrating that water flooding is very appropriate. Yesterday's quarter was mildly disappointing in that they spent a lot of money but showed flat production. Would pick away at this below $2.

BUY

(Market Call Minute) Reporting Wednesday. He is looking for huge growth in reserves.

TOP PICK

Did a $40 million financing at $2.40 in August. A pure play on the Slave Point in Alberta, which is hugely economic. Will be applying water flood to the play which could add a lot more value. Good balance sheet.

DON'T BUY

He has some companies in the same group. One is his top pick. Some interesting prospects in the red earth area. He is looking at other names at present.

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Pinecrest Energy (PRY.V)