Savanna Energy Services (SVY.TO) Buy, Sell or…

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Savanna Energy Services (SVY.TO)

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DON'T BUY

This stock is going down, so he would avoid it.

WEAK BUY

His model price is $33.60, a 110% positive differential, but the earnings estimates are coming down.

PAST TOP PICK

(A Top Pick March 9/07 Up 19.8%.) Still looking good. A great stock.

BUY

If you are looking to the energy service space, this is the name you should own. Valuation is reasonable. Margins held in pretty well in the last quarter. Well diversified across shallow and deep drilling.

TOP PICK

Had a tremendous range. Whole energy services sector is completely oversold. Hit the bottom near $17 after 2 major drops. Rising steadily. In the recovery mode. Reduce positions at $18.75 and close out at $18.

WAIT

Definitely one of the premier names. Moving up from an intermediate to a senior level driller. Did a very strategic merger with Western Lakota late last year. If you need to be in this space, this would be the one to own. Expect the price could be better if you wait.

BUY

Has a nice fleet of deep rigs. This is probably the bottom of the market for gas.

PAST TOP PICK

(A Top Pick June 2/06. down 33%.) Very levered to gas drilling. Looking out 6 months can see more drilling activity. Way oversold.

DON'T BUY

Pretty well everything in the oil services sector is down. Just had a good merger with Western Lakota (WLE-T). A little cautious about recommending any companies in this sector for anything near term.

PAST TOP PICK

(A Top Pick Jun 2/06. Down 16%.) Very gas weighted and the drop-in gas affected its price. Also made an investment in Western Lakota and investors that own both, where selling. On its way back up.

DON'T BUY

He is high on the drillers. Feels that the panic on the natural gas prices is way overdone. There will be demand for drilling services. Prefers Precision Drilling (PD.UN-T), Ensign Resources (ESI-T) and Calfrac (CFW-T).

WEAK BUY

Merged with Western Lakota. These are rig companies. It's a good situation for both of them. We are going into a slower period for the service companies in the oil patch, especially on the gas side. Well managed.

HOLD

In the process of merging with Western Lakota (WLE-T). Uses a flexible coil drilling which means they can drill a lot faster and more efficiently in shallow depths. The lower gas price is a definite black cloud on their horizon. We'll do okay, but wouldn't buy service stocks until there is some stabilisation in the price of gas.

WEAK BUY

Acquiring Western Lakota Energy Services (WLE-T). He is a fan of Western Lakota and together they will be a pretty good company. Getting hit with the low price of natural gas. Would be a good one to pick away at over the next several months as gas will go back up.

HOLD

Likes this sector and Calfrac (CFW-T) and Savanna (SVY-T) are the 2 cheapest. However, he has elected to go with Trican Well Service (TCW-T) instead although he hasn't bought it yet.

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