Arcan Resources Ltd.

ARN-X(dead)

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0.00 (0.00%)
This company is not ACTIVE.

Analysis and Opinions about ARN-X(dead)

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
August 13, 2013

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.

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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.

DON'T BUY
DON'T BUY
May 14, 2013

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

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

DON'T BUY
DON'T BUY
December 27, 2012

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.

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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.

COMMENT
COMMENT
December 7, 2012

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.

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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.

DON'T BUY
DON'T BUY
November 8, 2012

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.

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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.

DON'T BUY
DON'T BUY
September 19, 2012

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.

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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.

COMMENT
COMMENT
August 31, 2012

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.

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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.

DON'T BUY
DON'T BUY
August 21, 2012

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.

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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.

DON'T BUY
DON'T BUY
July 16, 2012
(Market Call Minute.) Debt is too high for him.
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(Market Call Minute.) Debt is too high for him.
HOLD
HOLD
May 16, 2012
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.
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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.
WAIT
WAIT
March 23, 2012
Some recent news that shows they are still drilling wells. There was always chatter about who was going to by them.
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Some recent news that shows they are still drilling wells. There was always chatter about who was going to by them.
BUY
BUY
March 19, 2012
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.
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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.
TOP PICK
TOP PICK
February 24, 2012
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.
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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.
BUY
BUY
January 24, 2012
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.
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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.
COMMENT
COMMENT
December 29, 2011
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.
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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.
BUY
BUY
December 15, 2011
A Beaver Hill Lake oil play. Whenever you encounter a small company pursuing a new resource play, there are always some initial higher costs. Likes where the play is going. Expect this will be a takeout in late 2012.
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A Beaver Hill Lake oil play. Whenever you encounter a small company pursuing a new resource play, there are always some initial higher costs. Likes where the play is going. Expect this will be a takeout in late 2012.
PAST TOP PICK
PAST TOP PICK
November 8, 2011
(A Top Pick Dec 7/10. Up 5.97%.)
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(A Top Pick Dec 7/10. Up 5.97%.)
WEAK BUY
WEAK BUY
November 8, 2011
One of the companies that fits into CPG’s portfolio. ARN is producing and CPOG owns 19.9%. CPG will likely take them over as they develop.
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One of the companies that fits into CPG’s portfolio. ARN is producing and CPOG owns 19.9%. CPG will likely take them over as they develop.
PAST TOP PICK
PAST TOP PICK
November 8, 2011
(A Top Pick Dec 7/10. Up 5.97%.)
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(A Top Pick Dec 7/10. Up 5.97%.)
STRONG BUY
STRONG BUY
October 13, 2011
(A Top Pick Oct 22/10. Up 11.4%.) Growing very rapidly. Have about a 105 section contiguous block of land in the Swan Hills area. Very prospective for light oil. Very well financed. About $50 million cash and about $120 million line of credit.
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(A Top Pick Oct 22/10. Up 11.4%.) Growing very rapidly. Have about a 105 section contiguous block of land in the Swan Hills area. Very prospective for light oil. Very well financed. About $50 million cash and about $120 million line of credit.
BUY
BUY
October 13, 2011
Continue to come out with phenomenal well results. Recently did a financing. Continue to have good success in the Font Hills play. Looking for a huge ramp-up in production. Prime takeover candidate at $7-$8.
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Continue to come out with phenomenal well results. Recently did a financing. Continue to have good success in the Font Hills play. Looking for a huge ramp-up in production. Prime takeover candidate at $7-$8.
BUY
BUY
September 29, 2011
Very large resource play. Have done a great job of delineating the play. Ready to bring on full production. Good price.
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Very large resource play. Have done a great job of delineating the play. Ready to bring on full production. Good price.
BUY
BUY
August 29, 2011
Just-released results, which are guiding to higher production levels. Crescent Point (CPG-T) owns a sizable amount of this company.
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Just-released results, which are guiding to higher production levels. Crescent Point (CPG-T) owns a sizable amount of this company.
TOP PICK
TOP PICK
August 10, 2011
150 sections of contiguous land in an light oil play in the Swan Hills. Expect them to be ultimately taken out by a larger company.
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150 sections of contiguous land in an light oil play in the Swan Hills. Expect them to be ultimately taken out by a larger company.
BUY
BUY
July 19, 2011
Likes the name. 1.5 % in hedge fund strategy. Oil play in swan hills areas. Owned 19% by Crescent point Entergy. Likes the prospects.
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Likes the name. 1.5 % in hedge fund strategy. Oil play in swan hills areas. Owned 19% by Crescent point Entergy. Likes the prospects.
TOP PICK
TOP PICK
July 5, 2011
A junior in Western Canada. Have the second biggest oilfield in Canada and they own land around this. Great takeover target. NAV is about $4.50, which could probably be doubled on a takeover.
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A junior in Western Canada. Have the second biggest oilfield in Canada and they own land around this. Great takeover target. NAV is about $4.50, which could probably be doubled on a takeover.
COMMENT
COMMENT
June 24, 2011
Huge oil resource in central Alberta. Had issues with one of their rigs but that seems to have been resolved. Starting to see fairly good results from the drilling. If they can delineate this there should be out a lot of upside. CapX is very aggressive so it needs to see execution. If management can prove out the project, there should be a good lift and valuation.
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Huge oil resource in central Alberta. Had issues with one of their rigs but that seems to have been resolved. Starting to see fairly good results from the drilling. If they can delineate this there should be out a lot of upside. CapX is very aggressive so it needs to see execution. If management can prove out the project, there should be a good lift and valuation.
TOP PICK
TOP PICK
May 19, 2011
Oil producer in the western Canadian basin. Their big play is the Swan Hills play in Alberta. Had 100% drilling success this year. Well financed and valuation is good.
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Oil producer in the western Canadian basin. Their big play is the Swan Hills play in Alberta. Had 100% drilling success this year. Well financed and valuation is good.
TOP PICK
TOP PICK
May 4, 2011
Plays to the larger theme of the Swan Hills complex in Alberta. A Legacy (LEG-T) oil field that was discovered in the 1960’s. There were 6 billion barrels of oil initially in play. With the advancements in horizontal drilling, they are able to drill up the fringes of the pool. This company was an early entrant into the game. Could be a takeover target.
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Plays to the larger theme of the Swan Hills complex in Alberta. A Legacy (LEG-T) oil field that was discovered in the 1960’s. There were 6 billion barrels of oil initially in play. With the advancements in horizontal drilling, they are able to drill up the fringes of the pool. This company was an early entrant into the game. Could be a takeover target.
COMMENT
COMMENT
April 18, 2011
Fantastic junior exploration company. You can get almost 5% in their convertible bond. Problem with a resource company that has a reserve life is can they get through strenuous parts of a cycle. Very well run and has gotten cheap recently. Now has production making it look pretty compelling and would probably like the bonds as a way to get into it but he is not there yet.
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Fantastic junior exploration company. You can get almost 5% in their convertible bond. Problem with a resource company that has a reserve life is can they get through strenuous parts of a cycle. Very well run and has gotten cheap recently. Now has production making it look pretty compelling and would probably like the bonds as a way to get into it but he is not there yet.
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