Arcan Resources Ltd. | StockChase
37
Arcan Resources Ltd. (ARN-X(dead))

Last Price Recorded: $0.0000 on 2015-11-02

ON STOCKCHASE SINCE Sep 2009

Oil/natural gas exploration, development, and production primarily in the areas of Deer Mountain, McLeod, and Hamburg, western Canada.

oil/gas
37
Arcan Resources Ltd. (ARN-X(dead))

Last Price Recorded: $0.0000 on 2015-11-02

ON STOCKCHASE SINCE Sep 2009

Oil/natural gas exploration, development, and production primarily in the areas of Deer Mountain, McLeod, and Hamburg, western Canada.

oil/gas

Arcan Resources Ltd.


Signal Opinion Expert
DON'T BUY

Really quite concerned because of their debt situation. Debentures are trading at a big, big discount to the principle value. Have a giant overhanging debt. They have assets which he thinks should be sold. Too risky.

oil/gas

Really quite concerned because of their debt situation. Debentures are trading at a big, big discount to the principle value. Have a giant overhanging debt. They have assets which he thinks should be sold. Too risky.

oil/gas
Peter Hodson

CEO & Head of Research, 5i Research Inc....

PricePrice
$0.470
Owned Owned
No

DON'T BUY

Their debt is quite high and they will have to do something to change it.

oil/gas

Their debt is quite high and they will have to do something to change it.

oil/gas
Joanne A. Hruska, CFA

Vice President, Portfolio Management, Aston Hill Financial...

PricePrice
$0.600
Owned Owned
No

DON'T BUY

Raised a lot of money and made a lot of acquisitions but have a lot of debt on their balance sheet. Production costs were much more than anticipated.

oil/gas

Raised a lot of money and made a lot of acquisitions but have a lot of debt on their balance sheet. Production costs were much more than anticipated.

oil/gas
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc...

PricePrice
$1.020
Owned Owned
No

COMMENT

Chart shows a bit of support that was broken earlier this year. A possible head and shoulders bottom may be forming. He looks for neckline breakouts. If the current neckline is broken, he could see a target of right in around $4 or so.

oil/gas

Chart shows a bit of support that was broken earlier this year. A possible head and shoulders bottom may be forming. He looks for neckline breakouts. If the current neckline is broken, he could see a target of right in around $4 or so.

oil/gas
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$1.240
Owned Owned
Unknown

DON'T BUY

Arcan is a traditional junior, Neighbors to Pengrowth but they don’t look at them as an acquisition candidate.  Not as enthusiastic about it.  Expensive and he questions the internal rates of return.

oil/gas

Arcan is a traditional junior, Neighbors to Pengrowth but they don’t look at them as an acquisition candidate.  Not as enthusiastic about it.  Expensive and he questions the internal rates of return.

oil/gas
Dennis da Silva

Managing Director & Sr Portfolio Manager, Middlefield Capital ...

PricePrice
$0.900
Owned Owned
Yes

DON'T BUY

He would be very cautious on this one. The small cap model on oil and gas for the time being is somewhat obsolete because the capital intensity has gone up very materially and at the same time, many companies have over leveraged themselves. Debt to cash flow is now over 4 times. You are essentially counting on them to be taken out, if that were to come to pass, you have a good premium but the risk is too high.

oil/gas

He would be very cautious on this one. The small cap model on oil and gas for the time being is somewhat obsolete because the capital intensity has gone up very materially and at the same time, many companies have over leveraged themselves. Debt to cash flow is now over 4 times. You are essentially counting on them to be taken out, if that were to come to pass, you have a good premium but the risk is too high.

oil/gas
Eric Nuttall

Senior Portfolio Manager, Ninepoint Partners...

PricePrice
$1.330
Owned Owned
No

COMMENT

An Alberta light oil play. Ventured into the Swan Hills in late 2010 and were very aggressive in their capital program by spending about $150 million. Expected to generate $50-$60 million in cash flow. Costs in the Swan Hill area has gone up significantly so economically these wells were less than expected and also payout in barrels was slightly less. Had also been hit with light oil differentials and bad weather. Generated a very high debt level.

oil/gas

An Alberta light oil play. Ventured into the Swan Hills in late 2010 and were very aggressive in their capital program by spending about $150 million. Expected to generate $50-$60 million in cash flow. Costs in the Swan Hill area has gone up significantly so economically these wells were less than expected and also payout in barrels was slightly less. Had also been hit with light oil differentials and bad weather. Generated a very high debt level.

oil/gas
Alice Tsang

Portfolio Manager, Marquest Asset Manag...

PricePrice
$1.520
Owned Owned
No

DON'T BUY

Has declined 50% below one of his moving averages and has underperformed over 70%. Ranks 480 in his model. Expected to earn $.06 in 2013 giving a PE multiple of approximately 24 times. There are others that have more visible opportunity to end up making decent money.

oil/gas

Has declined 50% below one of his moving averages and has underperformed over 70%. Ranks 480 in his model. Expected to earn $.06 in 2013 giving a PE multiple of approximately 24 times. There are others that have more visible opportunity to end up making decent money.

oil/gas
Robert McWhirter

President, Selective Asset Mana...

PricePrice
$1.400
Owned Owned
No

DON'T BUY
(Market Call Minute.) Debt is too high for him.
oil/gas
(Market Call Minute.) Debt is too high for him.
oil/gas
Eric Nuttall

Senior Portfolio Manager, Ninepoint Partners...

PricePrice
$1.450
Owned Owned
No

HOLD
Put out a quarter that was less than fantastic. Spent way more than people were expecting so the debt is to a level where people are uncomfortable. Over 3X debt to cash flow. Questions execution by the management.
oil/gas
Put out a quarter that was less than fantastic. Spent way more than people were expecting so the debt is to a level where people are uncomfortable. Over 3X debt to cash flow. Questions execution by the management.
oil/gas
Eric Nuttall

Senior Portfolio Manager, Ninepoint Partners...

PricePrice
$2.560
Owned Owned
Yes

WAIT
Some recent news that shows they are still drilling wells. There was always chatter about who was going to by them.
oil/gas
Some recent news that shows they are still drilling wells. There was always chatter about who was going to by them.
oil/gas
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital ...

PricePrice
$4.730
Owned Owned
Unknown

BUY
Sitting on one of the sexiest oil plays in Canada. Demonstrated they can grow production meaningfully. Trades at discount to others. Always chatter of take-out. More likely to be taken out and piers. Balance sheet is strong and it is light oil. Things that eventually it will be taken out.
oil/gas
Sitting on one of the sexiest oil plays in Canada. Demonstrated they can grow production meaningfully. Trades at discount to others. Always chatter of take-out. More likely to be taken out and piers. Balance sheet is strong and it is light oil. Things that eventually it will be taken out.
oil/gas
Eric Nuttall

Senior Portfolio Manager, Ninepoint Partners...

PricePrice
$5.530
Owned Owned
Yes

TOP PICK
Significant and mostly contiguous land position in the Swan Hills play in Alberta. Very heated, light oil play that is getting a lot of attention in the market. Of the 130 sectors they have, probably 100 are light oil.
oil/gas
Significant and mostly contiguous land position in the Swan Hills play in Alberta. Very heated, light oil play that is getting a lot of attention in the market. Of the 130 sectors they have, probably 100 are light oil.
oil/gas
Mason Granger

Portfolio Manager, Sentry Investments...

PricePrice
$5.900
Owned Owned
Yes

BUY
Likes the story. Drill results on 10 wells next week. Their leverage to the price of oil is very good. Continue to like the name. They did significant financing late last year. Good chance of this name being consolidated this year.
oil/gas
Likes the story. Drill results on 10 wells next week. Their leverage to the price of oil is very good. Continue to like the name. They did significant financing late last year. Good chance of this name being consolidated this year.
oil/gas
Eric Nuttall

Senior Portfolio Manager, Ninepoint Partners...

PricePrice
$5.390
Owned Owned
Unknown

COMMENT
A little bit cautious as last quarter their costs were going up quite a bit. Producing about 5500 BOE's and planning to exit at around 6000. Cash flow multiple is not very high and have a big landholding. Likes the story.
oil/gas
A little bit cautious as last quarter their costs were going up quite a bit. Producing about 5500 BOE's and planning to exit at around 6000. Cash flow multiple is not very high and have a big landholding. Likes the story.
oil/gas
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc...

PricePrice
$4.840
Owned Owned
Yes

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