Opinions Glenn MacNeill, P.Eng.
Viking Energy Royalty TrustVKR.UN.TOWAITSep 02, 2005
Assets aren't as good as he hoped. Management is very skilled. Hasn't performed as well as he would like and hopes that good management will prevail over the long term.
$8.14
Stock price when the opinion was issued
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HOLD
Would rank as a tear 2/3 player. Good quality people are running the trust. Has a lot of heavy oil exposure. Management has good heavy oil experience.
Dean OrricoOwned
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HOLD
HOLD
This one is merging with Harvest Energy (HTE.UN-T). The combined trust will be attractive to large institutional investors which will create an improved valuation. It is possible they could get a US listing that would improve the valuation. On Mergers, there is always integration risks but in 6/9 months, it will be a good trust.
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BUY
Merging with Hardest Energy (HTE.UN-T) giving them a much larger land-base. Management has a great track record in heavy oil. Feel there will be good upside.
Michele RobitailleOwned
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HOLD
Merging with Harvest Energy Trust (THE.UN-T). Because Viking pays out more in distributions, Holders of Harvest Energy will get less in distributions. We'll probably become a better run trust because of the merger. If you own, wait until it gets listed on the exchange and then take some profits, probably in the first quarter.
Robert LauzonOwned
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PAST TOP PICK
(A Top Pick July 4/05. Up 30% plus distributions.) Had a target of $10, so when it came close to that, he took some profits. Has a very good payout. A little high on the payout and is in a bit of a downtrend right now. Wouldn't buy right now, but is probably a hold.
David ChapmanOwned
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HOLD
A reasonable quality trust. New management team and is in a bit of a turn around. Recently increased their distribution which gave it a bit of a pop. Probably not a bad idea to take a little bit of money off the table.
Michele RobitailleOwned
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BUY
BUY
WEAK BUY
Just increased distributions. Fundamentals continue to hang in there. Payout ratio has jumped because of their increase in distributions, so you want to keep a close eye on to make sure they are not over paying.
Dean OrricoOwned
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