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PAST TOP PICK
(A Top Pick Oct 09/18, Down 74%) It has a debt situation. He likes the company and the management. They have good assets. He would like to see the debt paid down more.
oil / gas
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.
oil / gas
PAST TOP PICK

(Top Pick Apr 19/12, Up 129.61)

oil / gas
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.

oil / gas
HOLD

(Market Call Minute) The deal probably goes through.

oil / gas
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.

oil / gas
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.

oil / gas
PAST TOP PICK
(A Top Pick April 19/12. Up 109.88%.) Being acquired by Petronas.
oil / gas
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.
oil / gas
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.
oil / gas
TOP PICK
Gas weighted producer, largest landholder there. Distribution is safe for at lest 6 months.
oil / gas
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.
oil / gas
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.
oil / gas
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.
oil / gas
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.
oil / gas
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Progress Energy Resources Corp(PRQ-T) Rating

Ranking : 1 out of 5

Bullish - Buy Signals / Votes : 0

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 0

Total Signals / Votes : 0

Stockchase rating for Progress Energy Resources Corp is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Progress Energy Resources Corp(PRQ-T) Frequently Asked Questions

What is Progress Energy Resources Corp stock symbol?

Progress Energy Resources Corp is a OTC stock, trading under the symbol PRQ-T on the (). It is usually referred to as or PRQ-T

Is Progress Energy Resources Corp a buy or a sell?

In the last year, there was no coverage of Progress Energy Resources Corp published on Stockchase.

Is Progress Energy Resources Corp a good investment or a top pick?

Progress Energy Resources Corp was recommended as a Top Pick by on . Read the latest stock experts ratings for Progress Energy Resources Corp.

Why is Progress Energy Resources Corp stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is Progress Energy Resources Corp worth watching?

0 stock analysts on Stockchase covered Progress Energy Resources Corp In the last year. It is a trending stock that is worth watching.

What is Progress Energy Resources Corp stock price?

On , Progress Energy Resources Corp (PRQ-T) stock closed at a price of $.