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Opinions Glenn MacNeill, P.Eng.
Petrofund Energy TrustPTF.UN.TOBUYNov 05, 2004
Has had really good growth in the last little while. Good merger with Ultima which reduces US ownership. Overhead expenses were high but expected to be reduced. Good assets.
$15.50
Stock price when the opinion was issued
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BUY
Made a very astute purchase in buying Ultima to acquire the Wayburn property which gives them positive reserve positions. One of the few companies that has a less than 100% AFFO payout ratio. Well managed.
Sandy McIntyreOwned
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DON'T BUY
Owns in an index fund because they have no choice. Has some pretty high costs. Reserve life is around the 10 year mark. Growing by acquisition and prefers the ones growing by internal growth, such as Arc Energy (AET.UN-T), Ketch (KER.UN-T), Bonavista (BNP.UN-T), Focus (FET.UN-T), Peyto (PEY.UN-T). They pay out less of their cash flow in order to keep and grow their reserve life.
Robert LauzonOwned
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BUY
