Bonterra Energy Corp

BNE-T

Analysis and Opinions about BNE-T

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
April 2, 2015

(A Top Pick April 24/14. Down 36.76%.) Still a core holding. This company stands out as one of the best capital allocators in Calgary. They have a track record going back to 1998 of delivering exceptional returns to shareholders. A very disciplined company, and he considers it a cornerstone of his portfolio.

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(A Top Pick April 24/14. Down 36.76%.) Still a core holding. This company stands out as one of the best capital allocators in Calgary. They have a track record going back to 1998 of delivering exceptional returns to shareholders. A very disciplined company, and he considers it a cornerstone of his portfolio.

DON'T BUY
DON'T BUY
March 24, 2015

He is zero weighted in Canadian energy stocks. There are a number of cognitive mistakes people make about stocks that have gone down this much. Just because an energy stock has fallen to half it does not make it a bargain. There is a lot of oil in storage and demand is not growing as fast as in past economic recoveries.

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He is zero weighted in Canadian energy stocks. There are a number of cognitive mistakes people make about stocks that have gone down this much. Just because an energy stock has fallen to half it does not make it a bargain. There is a lot of oil in storage and demand is not growing as fast as in past economic recoveries.

COMMENT
COMMENT
January 20, 2015

To the best of his knowledge, this company does not have any oil hedges in place, nor reduced their dividend, but thinks it is imminent given that companies cannot grow production at $50 oil and pay a dividend. They have a good position in the eastern core of the Pembina field. At sub-$50 without any hedging, he thinks there will be a realignment of the dividend.

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To the best of his knowledge, this company does not have any oil hedges in place, nor reduced their dividend, but thinks it is imminent given that companies cannot grow production at $50 oil and pay a dividend. They have a good position in the eastern core of the Pembina field. At sub-$50 without any hedging, he thinks there will be a realignment of the dividend.

HOLD
HOLD
November 21, 2014

The pressures on this stock are simply industry related. Oil production growth is fine. They have a decent dividend yield. Good management and a good strong track record.

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The pressures on this stock are simply industry related. Oil production growth is fine. They have a decent dividend yield. Good management and a good strong track record.

HOLD
HOLD
September 4, 2014

Stock has done well and he has no problem with this company.

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Stock has done well and he has no problem with this company.

COMMENT
COMMENT
June 25, 2014

Really good company. Came out with fantastic earnings. Great management. Have added lots of wells in the past 12 months. Great balance sheet. Also, likes the yield. Really good company, but he would prefer others.

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Really good company. Came out with fantastic earnings. Great management. Have added lots of wells in the past 12 months. Great balance sheet. Also, likes the yield. Really good company, but he would prefer others.

HOLD
HOLD
June 9, 2014

(Market Call Minute) Steady eddy name that won’t make you rich from here. Trading at a premium to names he would recommend so if you own it just collect the dividend. Safe business model.

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(Market Call Minute) Steady eddy name that won’t make you rich from here. Trading at a premium to names he would recommend so if you own it just collect the dividend. Safe business model.

TOP PICK
TOP PICK
April 24, 2014

Preeminent dividend paying light oil stock in Western Canada. The best capital allocator in Western Canada. You can expect ongoing dividend increases and production per share growth.

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Preeminent dividend paying light oil stock in Western Canada. The best capital allocator in Western Canada. You can expect ongoing dividend increases and production per share growth.

COMMENT
COMMENT
January 13, 2014

(Market Call Minute.) Just bought some today. Could surprise to the upside on news later this month from results from some assets.

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(Market Call Minute.) Just bought some today. Could surprise to the upside on news later this month from results from some assets.

PAST TOP PICK
PAST TOP PICK
November 4, 2013

(Top Pick Nov 12/12, Up 7.97%) He sold on the day of the announcement of the sale.

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(Top Pick Nov 12/12, Up 7.97%) He sold on the day of the announcement of the sale.

BUY
BUY
September 25, 2013

Exceptionally well run company. Largely light oil of the Pembina/Cardium field. Had some recent success in drilling the longer horizontals. Implication of this on certain plays in Canada is transformational. You spend maybe 15%-20% more on a well which could increase production from 250 to 1000. Payback is much faster and, as a dividend payer, it gives that much more cash flow and free cash flow to increase growth rate are pay out a higher dividend. Wouldn’t be surprised if they increased their dividend in the next couple of months. Probably trading at 9.5X, so not the cheapest stock but the implementation of technology, if successful, could transform this company to be able to grow potentially in the mid-teens and still pay a pretty healthy dividend.

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Bonterra Energy Corp (BNE-T)
September 25, 2013

Exceptionally well run company. Largely light oil of the Pembina/Cardium field. Had some recent success in drilling the longer horizontals. Implication of this on certain plays in Canada is transformational. You spend maybe 15%-20% more on a well which could increase production from 250 to 1000. Payback is much faster and, as a dividend payer, it gives that much more cash flow and free cash flow to increase growth rate are pay out a higher dividend. Wouldn’t be surprised if they increased their dividend in the next couple of months. Probably trading at 9.5X, so not the cheapest stock but the implementation of technology, if successful, could transform this company to be able to grow potentially in the mid-teens and still pay a pretty healthy dividend.

BUY
BUY
August 19, 2013

6.9% dividend is safe. The negative is that it is not one of the most traded former royalty trust names but decent balance sheet.

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6.9% dividend is safe. The negative is that it is not one of the most traded former royalty trust names but decent balance sheet.

WEAK BUY
WEAK BUY
August 1, 2013

6.7% dividend. Was a leader in the Cardium play, there since the beginning. Tons of upside. It is reasonably valued. Might go up given balance sheet strength and acquisitions. A good core holding but he does not own it because he chose others. Dividend is secure. 10-15% growth potential.

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6.7% dividend. Was a leader in the Cardium play, there since the beginning. Tons of upside. It is reasonably valued. Might go up given balance sheet strength and acquisitions. A good core holding but he does not own it because he chose others. Dividend is secure. 10-15% growth potential.

BUY
BUY
July 16, 2013

Bonterra Energy (BNE-T) or Baytex Energy (BTE-T)? Really likes Baytex but it’s a little pricey, so based on valuation, he would choose Bonterra which is a little cheaper and has pretty good growth. Has a dividend growth model and looking at growing EPS at 5% annually.

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Bonterra Energy (BNE-T) or Baytex Energy (BTE-T)? Really likes Baytex but it’s a little pricey, so based on valuation, he would choose Bonterra which is a little cheaper and has pretty good growth. Has a dividend growth model and looking at growing EPS at 5% annually.

DON'T BUY
DON'T BUY
June 18, 2013

Completed an acquisition of Spartan last quarter so results showed production was up. Because of what they are planning to do with this new mine you are probably going to find that production for Bonterra is going to decrease in the 2nd half of this year. There is a little more gas than he had expected there would be. Yield is very secure. There are better choices out there.

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Completed an acquisition of Spartan last quarter so results showed production was up. Because of what they are planning to do with this new mine you are probably going to find that production for Bonterra is going to decrease in the 2nd half of this year. There is a little more gas than he had expected there would be. Yield is very secure. There are better choices out there.

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