Pinecrest Energy

PRY-X

0.00
0.00 (0.00%)
This company is not ACTIVE.

Analysis and Opinions about PRY-X

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
June 9, 2014

(Market Call Minute) Declining production and increasing debt to cash flow. Didn’t live up to expectations of water flooding and is on death watch.

(Market Call Minute) Declining production and increasing debt to cash flow. Didn’t live up to expectations of water flooding and is on death watch.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.115
Owned
Unknown
DON'T BUY
DON'T BUY
April 17, 2014

Strong concerns. Reservoir has high declines. They hoped to do water flood, but it did not meet management expectations or those of the street. Production is falling. He is not interested.

Strong concerns. Reservoir has high declines. They hoped to do water flood, but it did not meet management expectations or those of the street. Production is falling. He is not interested.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.170
Owned
No
DON'T BUY
DON'T BUY
February 25, 2014

There is upside, but they have been a serial disappointer. Not what he invests in. He prefers PPY-T. Thinks PPY will sell of some assets and become even more of a pure play.

Pinecrest Energy (PRY-X)
February 25, 2014

There is upside, but they have been a serial disappointer. Not what he invests in. He prefers PPY-T. Thinks PPY will sell of some assets and become even more of a pure play.

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$0.220
Owned
No
DON'T BUY
DON'T BUY
February 12, 2014

Thinks operating pressures are coming to bear on this poor little enterprise. There is not a lot of downside left. There are better alternatives.

Pinecrest Energy (PRY-X)
February 12, 2014

Thinks operating pressures are coming to bear on this poor little enterprise. There is not a lot of downside left. There are better alternatives.

Bill Bonner
President & Portfolio Manager, Brickburn Asset Management Inc
Price
$0.190
Owned
No
COMMENT
COMMENT
September 25, 2013

Faced some challenges this year. Recently cut CapX program pretty significantly. This was a high growth company so subsequently had high declines. Struggled on the drilling side where they over capitalized on one area. Production is falling and debt to cash flow has ballooned from almost 0 to 1.7-1.8 times. Feels they can maintain flat production by using all their cash flow. They require further success through water flooding. There is promise in the stock long-term.

Pinecrest Energy (PRY-X)
September 25, 2013

Faced some challenges this year. Recently cut CapX program pretty significantly. This was a high growth company so subsequently had high declines. Struggled on the drilling side where they over capitalized on one area. Production is falling and debt to cash flow has ballooned from almost 0 to 1.7-1.8 times. Feels they can maintain flat production by using all their cash flow. They require further success through water flooding. There is promise in the stock long-term.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.580
Owned
No
DON'T BUY
DON'T BUY
August 19, 2013

Has been under stress because production has fallen and they are relying on their water floods to kick in further. Their reservoirs are very low energy so management has learned that they have to implement a water flood sooner than they had in the past. While they are waiting, production is falling and costs are creeping up.

Pinecrest Energy (PRY-X)
August 19, 2013

Has been under stress because production has fallen and they are relying on their water floods to kick in further. Their reservoirs are very low energy so management has learned that they have to implement a water flood sooner than they had in the past. While they are waiting, production is falling and costs are creeping up.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.455
Owned
No
SPECULATIVE BUY
SPECULATIVE BUY
August 15, 2013

A small cap. They have decline rates on their wells of 60-70%. It is a great package of assets for a bigger company but when you are small there is not much room for another 10 wells. They were supposed to do a merger and that got unraveled. One of the cheapest stocks in Canada but they need to find someone with a bigger pocket book to JV with.

Pinecrest Energy (PRY-X)
August 15, 2013

A small cap. They have decline rates on their wells of 60-70%. It is a great package of assets for a bigger company but when you are small there is not much room for another 10 wells. They were supposed to do a merger and that got unraveled. One of the cheapest stocks in Canada but they need to find someone with a bigger pocket book to JV with.

Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$0.610
Owned
Unknown
DON'T BUY
DON'T BUY
July 23, 2013

Has a tight oil asset in northern Alberta. A lot of things have gone wrong for the company in the last couple of years. As a tight oil company they faced high declines and their access to capital is basically nil. Late last year they tried an odd transaction to put themselves together with Spartan and he was very opposed to that merger. There is some value here but he wouldn’t be surprised if the board wasn’t proposing strategic alternatives.

Has a tight oil asset in northern Alberta. A lot of things have gone wrong for the company in the last couple of years. As a tight oil company they faced high declines and their access to capital is basically nil. Late last year they tried an odd transaction to put themselves together with Spartan and he was very opposed to that merger. There is some value here but he wouldn’t be surprised if the board wasn’t proposing strategic alternatives.

Mason Granger
Portfolio Manager, Sentry Investments
Price
$0.650
Owned
No
DON'T BUY
DON'T BUY
June 20, 2013

Future is kind of murky on this one. This is a pure play, Slave Point, small cap producer that has really struggled with Slave Point. It has been a much more challenging play than expected. Doesn’t know how they get out of the spiral that they are in.

Future is kind of murky on this one. This is a pure play, Slave Point, small cap producer that has really struggled with Slave Point. It has been a much more challenging play than expected. Doesn’t know how they get out of the spiral that they are in.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.630
Owned
No
DON'T BUY
DON'T BUY
June 5, 2013

The spurned bride at the altar. Unfortunately Bonterra (BNE-T) stepped up and did the deal with Sparton (SPA-N). This company has an excellent management team but unfortunately the market has fallen out of love with water flood projects that are embedded in their asset base. He is waiting to see how the market sorts out the relative underperformance of the water flood issues. He would like to own at a lower price.

The spurned bride at the altar. Unfortunately Bonterra (BNE-T) stepped up and did the deal with Sparton (SPA-N). This company has an excellent management team but unfortunately the market has fallen out of love with water flood projects that are embedded in their asset base. He is waiting to see how the market sorts out the relative underperformance of the water flood issues. He would like to own at a lower price.

Bill Bonner
President & Portfolio Manager, Brickburn Asset Management Inc
Price
$0.640
Owned
No
WEAK BUY
WEAK BUY
May 21, 2013

Pretty concentrated asset base, winter access only. Fought against fairly high decline rates. They are still trying to institute the water flood and we are starting to see some positive results. At the end of the day he expects it to work.

Pretty concentrated asset base, winter access only. Fought against fairly high decline rates. They are still trying to institute the water flood and we are starting to see some positive results. At the end of the day he expects it to work.

Mason Granger
Portfolio Manager, Sentry Investments
Price
$0.830
Owned
No
STRONG BUY
STRONG BUY
April 16, 2013

This name got clobbered. He quite likes them. There was a failed merger with Spartan and this company got a $12-$14 million kiss goodbye. Have phenomenal upside in water flood projects across their asset base. Also, on the projects they are implementing, they are finding that the turnaround time from implementing the flood to actually getting production responses, is measured in days, not in months or years. Exceptional value.

This name got clobbered. He quite likes them. There was a failed merger with Spartan and this company got a $12-$14 million kiss goodbye. Have phenomenal upside in water flood projects across their asset base. Also, on the projects they are implementing, they are finding that the turnaround time from implementing the flood to actually getting production responses, is measured in days, not in months or years. Exceptional value.

Bill Bonner
President & Portfolio Manager, Brickburn Asset Management Inc
Price
$1.030
Owned
Yes
COMMENT
COMMENT
February 11, 2013

(Market Call Minute.) Been a bit of a disaster. Started buying for the 1st time at about $1.10. Very cheap on a reserve value on production basis. May miss their Q but thinks the stock is pretty bombed out.

Pinecrest Energy (PRY-X)
February 11, 2013

(Market Call Minute.) Been a bit of a disaster. Started buying for the 1st time at about $1.10. Very cheap on a reserve value on production basis. May miss their Q but thinks the stock is pretty bombed out.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$1.140
Owned
Yes
DON'T BUY
DON'T BUY
January 9, 2013

Acquisition fell through but they gained $12 million in cash. The challenge is that they are a single asset company that is reliant on a fairly short drilling time. They are going to be entering into breakup in about 3 months. The stock is in freefall and is now in the value territory. The challenge with a cheap stock is that it can always become cheaper.

Pinecrest Energy (PRY-X)
January 9, 2013

Acquisition fell through but they gained $12 million in cash. The challenge is that they are a single asset company that is reliant on a fairly short drilling time. They are going to be entering into breakup in about 3 months. The stock is in freefall and is now in the value territory. The challenge with a cheap stock is that it can always become cheaper.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$1.440
Owned
Unknown
BUY
BUY
December 28, 2012

Excellent entry point. Slave Lake area. Light oil and producing about 4000 barrels a day, but more importantly they were about to merge with Spartan Oil (STO-T) before Bonterra (BNE-T) took out Spartan so they were able to pocket a nice break fee of about $15 million. Could easily see it at $2 in 12 months.

Pinecrest Energy (PRY-X)
December 28, 2012

Excellent entry point. Slave Lake area. Light oil and producing about 4000 barrels a day, but more importantly they were about to merge with Spartan Oil (STO-T) before Bonterra (BNE-T) took out Spartan so they were able to pocket a nice break fee of about $15 million. Could easily see it at $2 in 12 months.

Michael Giordano
VP Investments & Portfolio Manager,
Price
$1.490
Owned
Yes
BUY
BUY
December 10, 2012

(Market Call Minute)

Pinecrest Energy (PRY-X)
December 10, 2012

(Market Call Minute)

John Stephenson
President & CEO, Stephenson & Company Capital Management
Price
$1.620
Owned
Yes
DON'T BUY
DON'T BUY
November 12, 2012

(Market Call Minute) Wait for quarter to come out. Expects it to be pretty bad. Invest in other names.

Pinecrest Energy (PRY-X)
November 12, 2012

(Market Call Minute) Wait for quarter to come out. Expects it to be pretty bad. Invest in other names.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$1.830
Owned
No
PAST TOP PICK
PAST TOP PICK
September 19, 2012

(A Top Pick Oct 13/11. Down 5.2%.) Had weak results earlier this year but still have a concentrated play in one of the most highly economic oil plays in Canada. Looking for 40% production growth next year. Trading at it discount multiple because of the small cap stock at about 4.2 times.

Pinecrest Energy (PRY-X)
September 19, 2012

(A Top Pick Oct 13/11. Down 5.2%.) Had weak results earlier this year but still have a concentrated play in one of the most highly economic oil plays in Canada. Looking for 40% production growth next year. Trading at it discount multiple because of the small cap stock at about 4.2 times.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$1.810
Owned
Yes
BUY
BUY
August 3, 2012

Likes it. Most prolific wells in western Canada. 1500 barrels per day light oil. Buy half now and half later.

Likes it. Most prolific wells in western Canada. 1500 barrels per day light oil. Buy half now and half later.

Michael Giordano
VP Investments & Portfolio Manager,
Price
$1.860
Owned
Unknown
COMMENT
COMMENT
July 16, 2012
This one has been absolutely hammered. There is a perceived view that small caps are riskier. In the case of this company, they have the highest net backs (highest margins) of any Canadian oil company. Extraordinarily clean balance sheet. Can survive any low oil prices and will do well when oil improves. When they report, it probably won't be the greatest quarter but after that he would consider buying.
This one has been absolutely hammered. There is a perceived view that small caps are riskier. In the case of this company, they have the highest net backs (highest margins) of any Canadian oil company. Extraordinarily clean balance sheet. Can survive any low oil prices and will do well when oil improves. When they report, it probably won't be the greatest quarter but after that he would consider buying.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$1.660
Owned
Yes
BUY WEAKNESS
BUY WEAKNESS
May 16, 2012
Likes the Slave Point play, which is one of the most economic oil plays in Canada. This company has been doing a very good job of delineating the asset. Has and will be demonstrating that water flooding is very appropriate. Yesterday's quarter was mildly disappointing in that they spent a lot of money but showed flat production. Would pick away at this below $2.
Likes the Slave Point play, which is one of the most economic oil plays in Canada. This company has been doing a very good job of delineating the asset. Has and will be demonstrating that water flooding is very appropriate. Yesterday's quarter was mildly disappointing in that they spent a lot of money but showed flat production. Would pick away at this below $2.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$1.960
Owned
Yes
BUY
BUY
March 19, 2012
(Market Call Minute) Reporting Wednesday. He is looking for huge growth in reserves.
(Market Call Minute) Reporting Wednesday. He is looking for huge growth in reserves.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$3.160
Owned
Unknown
TOP PICK
TOP PICK
October 13, 2011
Did a $40 million financing at $2.40 in August. A pure play on the Slave Point in Alberta, which is hugely economic. Will be applying water flood to the play which could add a lot more value. Good balance sheet.
Pinecrest Energy (PRY-X)
October 13, 2011
Did a $40 million financing at $2.40 in August. A pure play on the Slave Point in Alberta, which is hugely economic. Will be applying water flood to the play which could add a lot more value. Good balance sheet.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$1.920
Owned
Yes
DON'T BUY
DON'T BUY
September 12, 2011
He has some companies in the same group. One is his top pick. Some interesting prospects in the red earth area. He is looking at other names at present.
Pinecrest Energy (PRY-X)
September 12, 2011
He has some companies in the same group. One is his top pick. Some interesting prospects in the red earth area. He is looking at other names at present.
Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$2.250
Owned
No
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