Renegade Petroleum Ltd. (RPL.V)

BUY
Likes Legacy (LEG-T), Angle (NGL-T) and Renegade (RPL-X). They’ve all been hammered in this market because of the rush to create liquidity in portfolios and concerns that oil has broken through the $80 level.
BUY ON WEAKNESS
Oil weighted. Really likes this team. Strategy is very clear. This is on his list. Would like to see it below $2.50. The oil differential is solved in the next 2 years, this company will do well.
BUY
You could put this one away. It will outperform.
TOP PICK
Eric’s theme tonight is “Getting something for nothing”. Down 35% in 2 months. Trading at 3.5X next year's cash flow. Company has one of the highest margins of any oil/gas stock in Canada. Growing production by about 75%. Because it is trading at such a ridiculously cheap multiple, you're getting a lot of upside and a few plays for free.
COMMENT
Good team, good assets and are financeable. On his short list. Pretty good price.
HOLD
Likes this and has it as an outperform. His target is $5.75.
BUY
Great operator with great plays. Can double their production base with a reasonable amount of effort. Goes to sleep during the summer. Oil differential is fixable, it just needs time and infrastructure.
BUY
Very oil weighted. Southern Saskatchewan. Great balance sheet. Excellent valuation. Thinks the cash flow per share growth could be 60%-70% this year. Likes what they are doing with their Souris Valley asset. There is a lot of upside in this name.
TOP PICK
Owned for a while. One of most profitable oil companies in the country. Up 47% in reserves this morning. Acquired two new plays. One of the most economic oil plays in the country. 70% growth in production expected. Very good upside.
BUY
Like Openrange, but. In the top 20. Tight focused plays. Great one to own. Great company.
BUY
Have a very good Bakken position in Saskatchewan as well as new emerging plays. Solid management. Gaining a lot of credibility. Being pretty much a 100% oil play is working out pretty well for them.
BUY
Likes it. 2 quarters of sequential growth. Likes management team. Trading just above 3.8 times enterprise cash flow. Outlook is quite good
TOP PICK
Has doubled its production but because they are energy and not gold, the stock hasn’t reacted yet. Drilling locations are high. Trading at about $0.50 on the dollar NAV. Will be a $4 stock when the energy market picks up.
TOP PICK
Focused on long life oil plays. Just over 3 times earnings. Moving into North Dakota. People will want to purchase companies like this. They have a great valuation. There have been a lot of Asian companies sniffing around different companies, trying to get a hold of Canada’s reserves.
HOLD
Doing much better operationally. Had a huge up tick in production despite a very arduous quarter. A lot of rainfall in Saskatchewan where they are located. Balance sheet is pretty good.
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