Progress Energy Resources Corp (PRQ-T) Stock Predictions - Stockchase
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Progress Energy Resources Corp (PRQ-T)

ON STOCKCHASE SINCE Jul 2004

Acquired by Petronas Dec 2012

oil/gas

Progress Energy Resources...

PRQ-T

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Progress Energy Resources Corp (PRQ-T) SAVE Apr, 23, 2019, 9:03 am

0.49 0.01 (1.02%)

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What the experts are saying about PRQ-T



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Signal Opinion Expert
COMMENT
They are involved in Western Alberta. They have 40% liquids and 60% Nat Gas. They can pull down their debt. It is a name too small for him to talk about. He likes their asset base as well as the management. He owns a small position but liquidity is a concern.
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They are involved in Western Alberta. They have 40% liquids and 60% Nat Gas. They can pull down their debt. It is a name too small for him to talk about. He likes their asset base as well as the management. He owns a small position but liquidity is a concern.
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Josef Schachter

President, Schachter Asset Mana...

Price Price
$0.000
Owned Owned
Yes

PAST TOP PICK

(Top Pick Apr 19/12, Up 129.61)

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(Top Pick Apr 19/12, Up 129.61)

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Jason Mayer

Portfolio , Middlefield Capital...

Price Price
$21.990
Owned Owned
No

COMMENT

Petronas deal was approved by the government. Feels that for the net benefit of Canada, despite having become such a political issue, it was absolutely the right decision. Capital requirement for oil Sands, tight oil and feedstock for West Coast LNG is absolutely humongous so we need companies like this to come in. There are some concerns that we need to pay special attention to but it was absolutely great and proper decision for the oil patch.

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Petronas deal was approved by the government. Feels that for the net benefit of Canada, despite having become such a political issue, it was absolutely the right decision. Capital requirement for oil Sands, tight oil and feedstock for West Coast LNG is absolutely humongous so we need companies like this to come in. There are some concerns that we need to pay special attention to but it was absolutely great and proper decision for the oil patch.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$19.370
Owned Owned
Unknown

HOLD

(Market Call Minute) The deal probably goes through.

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(Market Call Minute) The deal probably goes through.

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$19.390
Owned Owned
No

BUY

He thinks the take-over will go through.  Canada must build LNG facilities and eventually those who have not taken advantage of being the first mover and if we miss out, then our Nat. gas will be land-locked.  The buyer of PRQ has committed to spending billions of dollars.  As a country we need this to go through.  This is not that strategic of an asset.  As a country we need it to go through.

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He thinks the take-over will go through.  Canada must build LNG facilities and eventually those who have not taken advantage of being the first mover and if we miss out, then our Nat. gas will be land-locked.  The buyer of PRQ has committed to spending billions of dollars.  As a country we need this to go through.  This is not that strategic of an asset.  As a country we need it to go through.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$19.620
Owned Owned
No

PAST TOP PICK

If you are buying at this level, you are looking for the deal to go through and get your $22 and hoping to get it in the next 30-60 days. Nice short-term upside if the deal goes through. If the deal does not go through, he thinks this will trade in the $14-$15 range. There is potential that if this deal gets nixed a new buyer may emerge in the next 12 months. Very tough to speculate.

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If you are buying at this level, you are looking for the deal to go through and get your $22 and hoping to get it in the next 30-60 days. Nice short-term upside if the deal goes through. If the deal does not go through, he thinks this will trade in the $14-$15 range. There is potential that if this deal gets nixed a new buyer may emerge in the next 12 months. Very tough to speculate.

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Robert Lauzon

Deputy Chi, Middlefield Capital ...

Price Price
$18.360
Owned Owned
Unknown

PAST TOP PICK
(A Top Pick April 19/12. Up 109.88%.) Being acquired by Petronas.
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(A Top Pick April 19/12. Up 109.88%.) Being acquired by Petronas.
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Jason Mayer

Portfolio , Middlefield Capital...

Price Price
$20.130
Owned Owned
Yes

DON'T BUY
Should never have been paying a dividend in the first place. A gas producer in a poor gas environment. A long-term hold. Could be worth a lot more in 5 years and he is not convinced the dividend is safe.
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Should never have been paying a dividend in the first place. A gas producer in a poor gas environment. A long-term hold. Could be worth a lot more in 5 years and he is not convinced the dividend is safe.
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Mason Granger

Portfolio , Sentry Investments...

Price Price
$10.940
Owned Owned
Unknown

COMMENT
On a long-term, it is a great company. Have an incredible asset that will be highly strategic to west coast LNG. Shorter-term, it is trading at 13X enterprise value to cash flow. At current prices they cannot grow production at $3.50. It is already discounting a recovery in natural gas prices. You are probably a year out before a takeout is on the table.
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On a long-term, it is a great company. Have an incredible asset that will be highly strategic to west coast LNG. Shorter-term, it is trading at 13X enterprise value to cash flow. At current prices they cannot grow production at $3.50. It is already discounting a recovery in natural gas prices. You are probably a year out before a takeout is on the table.
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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$10.860
Owned Owned
Unknown

TOP PICK
Gas weighted producer, largest landholder there. Distribution is safe for at lest 6 months.
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Gas weighted producer, largest landholder there. Distribution is safe for at lest 6 months.
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Jason Mayer

Portfolio , Middlefield Capital...

Price Price
$9.660
Owned Owned
Yes

HOLD
Of the group, it is probably a Buy, but not a strong Buy. A potential takeover target. Very weak ass prices are a negative for the stock but he would be inclined to hold. Dividend is safe.
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Of the group, it is probably a Buy, but not a strong Buy. A potential takeover target. Very weak ass prices are a negative for the stock but he would be inclined to hold. Dividend is safe.
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John Stephenson

President , Stephenson & Company...

Price Price
$9.950
Owned Owned
No

WATCH
He would tend to wait. Others are bouncing along the floor, but until you see the turns talked about this show, he would be include to wait. He would look at adding it when Nat Gas turns. The key think is the converting of Coal fired power plants to Nat Gas.
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He would tend to wait. Others are bouncing along the floor, but until you see the turns talked about this show, he would be include to wait. He would look at adding it when Nat Gas turns. The key think is the converting of Coal fired power plants to Nat Gas.
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Peter Brieger

Chairman &, GlobeInvestment Capi...

Price Price
$10.280
Owned Owned
No

DON'T BUY
Probably not an acquisition target. Progress has responded by having to lower CAP X and cut production by 10%. Very low cost producer. Production is completely unhedged this year. Would prefer ARC.
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Probably not an acquisition target. Progress has responded by having to lower CAP X and cut production by 10%. Very low cost producer. Production is completely unhedged this year. Would prefer ARC.
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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$10.910
Owned Owned
Unknown

TOP PICK
He believes we are seeing a very firm bottom for nat. gas prices. This is a premier deep basin player. Has owned for a couple of decades. This is the top take-out candidate if someone wanted exposure to deep basin wells.
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He believes we are seeing a very firm bottom for nat. gas prices. This is a premier deep basin player. Has owned for a couple of decades. This is the top take-out candidate if someone wanted exposure to deep basin wells.
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Dennis da Silva

Managing D, Middlefield Capital ...

Price Price
$10.990
Owned Owned
Yes

BUY
(Market Call Minute) Long term buy. Asset will be strategic. There is further downside.
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(Market Call Minute) Long term buy. Asset will be strategic. There is further downside.
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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$10.990
Owned Owned
Unknown

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