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Eric Nuttall Torc Oil & Gas Ltd TOG-T PAST TOP PICK Sep 24, 2021

(A Top Pick Sep 18/20, Up 107%) Was taken over. Liked it for the team, asset and valuation. Was sad to see it go. There were motivated sellers. Sold to Whitecap.

Eric Nuttall

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oil gas

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COMMENT

Petrobank (PBG-T) has a buyout on it at $14.75 and it closed today at $15.34. It may be because people think a better offer may come but he doesn't think it is too likely. He recommends tendering to the offer, as it is very reasonable. New combined entity will be a good one to own.

HOLD

Acquiring Petrobank Energy (PBG-T). She will be holding her shares as she is looking for something in the $16-$17 range. If oil prices continue to be strong, her target level could be surpassed, as Petrobakken will be a very pure play as an oil producer.

STRONG BUY

Really likes this stock. Merging to create a new entity called Petrobakken. Over the next few years, he thinks they can really surface some value in the combined entity.

HOLD

Light oil. Likes the Petrobakken story. Probably the most profitable play in Western Canada. Well managed. Will grow their production substantially and has some great opportunities to do that.

PAST TOP PICK

(Top Pick Sept 5/08, Down 20%) Now you are going to be part of a larger entity. There is a lack of pure play large cap oil stocks in this country that don’t pay a distribution. They will have an enhanced market being larger.

COMMENT

Crescent Point Energy (CPG-T) and TriStar (TOG-T) are both great plays in the Bakkens. Although Crescent Point is more expensive, she prefers this because you get paid more to wait and they have a lot more land in the core of the play. There's also more diversification and they are oily.

HOLD

Merging to create a new entity called Petrobakken, which he likes. Creates a dominant Southeast Saskatchewan oil play rivalling Crescent Point (CPG-T). Not cheap, but has a lot of upside in development locations and production growth.

PAST TOP PICK

(A Top Pick Aug 6/09. Up 21.76%.)

TOP PICK

They are light oil. They are well balanced and have a small dividend and are promising to increase their dividend yield. They are long term thinkers. Yield = 5.5% (Analysts’ price target is $9.78)

HOLD

He prefers other names. It has a decent yield and book value of $6.89. They reported their results and had made two acquisitions to increase production. He has never seen stocks so cheap as they are at the bottom of this business cycle.

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Eric Nuttall Torc Oil & Gas Ltd TOG-T PAST TOP PICK Sep 24, 2021

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