Leucrotta Exploration Inc.

LXE-X

Analysis and Opinions about LXE-X

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
May 31, 2019
(A Top Pick May 15/18, Down 55%) It has suffered like all junior energy holdings. He exited as they want to have a better sense about the Canadian regulatory environment. They have kept their balance sheet strong.
(A Top Pick May 15/18, Down 55%) It has suffered like all junior energy holdings. He exited as they want to have a better sense about the Canadian regulatory environment. They have kept their balance sheet strong.
James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$0.860
Owned
No
PAST TOP PICK
PAST TOP PICK
January 14, 2019
(A Top Pick Mar 26/18, Down 30%) Also a top pick, so he'll comment there.
(A Top Pick Mar 26/18, Down 30%) Also a top pick, so he'll comment there.
James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.120
Owned
Yes
TOP PICK
TOP PICK
January 14, 2019
They do all the right things. They manage conservatively and smart in putting together their packages; their Lower Montney package shows excellent production growth, especially if oil prices recover. They have an Upper Montney discovery as well. He sees value creation here. It'll go higher. (Analysts’ price target is $2.12)
They do all the right things. They manage conservatively and smart in putting together their packages; their Lower Montney package shows excellent production growth, especially if oil prices recover. They have an Upper Montney discovery as well. He sees value creation here. It'll go higher. (Analysts’ price target is $2.12)
James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.120
Owned
Yes
PAST TOP PICK
PAST TOP PICK
December 20, 2018
(A Top Pick May 15/18, Down 54%) He's still long this. It's a top pick tonight, so he'll discuss it then.
(A Top Pick May 15/18, Down 54%) He's still long this. It's a top pick tonight, so he'll discuss it then.
James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$0.880
Owned
Yes
TOP PICK
TOP PICK
December 20, 2018
Any Canadian junior has been crushed, so he's looking for a very oversold name in an oversold sector, yet a company with a good balance sheet with some growth likely. LXE fulfills that and has no debt. Pristine balance sheet with $20 million cash. No debt. Their cash flow is break even with current oil prices. It'll likely bounce sharply in January. Also, Canadian oil is really really cheap. Over 3-5 years, you could see a 5-10-bagger. (Analysts’ price target is $2.27)
Any Canadian junior has been crushed, so he's looking for a very oversold name in an oversold sector, yet a company with a good balance sheet with some growth likely. LXE fulfills that and has no debt. Pristine balance sheet with $20 million cash. No debt. Their cash flow is break even with current oil prices. It'll likely bounce sharply in January. Also, Canadian oil is really really cheap. Over 3-5 years, you could see a 5-10-bagger. (Analysts’ price target is $2.27)
James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$0.880
Owned
Yes
PAST TOP PICK
PAST TOP PICK
November 27, 2018
(A Top Pick Mar 26/18, Down 25%) All small-cap energy names have taken a huge hit. But if you're a patient and believe Canadian oil will come back, then LXE is a tremendous buy. LXE has a pristine balance sheet with $20 million cash and zero debt. This is a good junior energy to play.
(A Top Pick Mar 26/18, Down 25%) All small-cap energy names have taken a huge hit. But if you're a patient and believe Canadian oil will come back, then LXE is a tremendous buy. LXE has a pristine balance sheet with $20 million cash and zero debt. This is a good junior energy to play.
James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.200
Owned
Yes
PAST TOP PICK
PAST TOP PICK
August 28, 2018

(A Top Pick June 23, 2017. Up 3%). This is the biggest position in his small-cap fund. He likes it from the fundamental change perspective and as a possible takeover..

(A Top Pick June 23, 2017. Up 3%). This is the biggest position in his small-cap fund. He likes it from the fundamental change perspective and as a possible takeover..

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.950
Owned
Yes
TOP PICK
TOP PICK
August 28, 2018

This is a junior producer in the Montney. They have 140 sections in northeast BC. Current production base is 3500 barrels per day and they just had a discovery in a different area, which can increase their production to 4000. The cost of each well is very low so there is fast payback, typically 18 months to pay for a well. He thinks the new discovery is drawing attention from bigger players, such as Tourmaline, that might buy the new play or the whole company. The CEO owns a big chunk of stock and has been in this type of situation, and sold his company, before. He thinks a takeout will be above $3 and that it should get close to $3 even if there is no takeout. (Analysts’ price target is $2.73)

This is a junior producer in the Montney. They have 140 sections in northeast BC. Current production base is 3500 barrels per day and they just had a discovery in a different area, which can increase their production to 4000. The cost of each well is very low so there is fast payback, typically 18 months to pay for a well. He thinks the new discovery is drawing attention from bigger players, such as Tourmaline, that might buy the new play or the whole company. The CEO owns a big chunk of stock and has been in this type of situation, and sold his company, before. He thinks a takeout will be above $3 and that it should get close to $3 even if there is no takeout. (Analysts’ price target is $2.73)

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.950
Owned
Yes
DON'T BUY
DON'T BUY
August 13, 2018

Met with management within the last month. He likes the management team and likes the land spread. He likes the story but is waiting for a more appropriate time if the stock became a bargain. He has other names that are more interesting at this time.

Met with management within the last month. He likes the management team and likes the land spread. He likes the story but is waiting for a more appropriate time if the stock became a bargain. He has other names that are more interesting at this time.

Josef Schachter
President, Schachter Asset Management
Price
$1.890
Owned
No
COMMENT
COMMENT
June 18, 2018

It is a great company. They are drilling wells across the existing. They have support from institutional investors. He is considering it. If they build up what they are talking about it could be $5 Billion. They could be acquired. He is about to do a big work up on the numbers.

It is a great company. They are drilling wells across the existing. They have support from institutional investors. He is considering it. If they build up what they are talking about it could be $5 Billion. They could be acquired. He is about to do a big work up on the numbers.

Josef Schachter
President, Schachter Asset Management
Price
$1.910
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
May 15, 2018

(A Top Pick March 26, 2018. Up 18%). This is one of his biggest holdings. He thinks it is the number one takeover candidate in Western Canada.

(A Top Pick March 26, 2018. Up 18%). This is one of his biggest holdings. He thinks it is the number one takeover candidate in Western Canada.

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.920
Owned
Yes
TOP PICK
TOP PICK
May 15, 2018

This is roughly half oil and half natural gas condensates. So there are 90% liquids in general which makes this a good target for acquisition. There is almost no debt. M&A globally has picked up tremendously but not in the energy space. He thinks that this will pick up, especially for small-cap companies like Leucrotta, The CEO is a large shareholder and would be well-rewarded by a good buyout. He has done it before. (Analysts’ price target is 2.52$)

This is roughly half oil and half natural gas condensates. So there are 90% liquids in general which makes this a good target for acquisition. There is almost no debt. M&A globally has picked up tremendously but not in the energy space. He thinks that this will pick up, especially for small-cap companies like Leucrotta, The CEO is a large shareholder and would be well-rewarded by a good buyout. He has done it before. (Analysts’ price target is 2.52$)

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.920
Owned
Yes
TOP PICK
TOP PICK
March 26, 2018

He says they have assembled a good Monteney holding. The market is not including all the drill targets that he thinks exists. Also, he likes their water flood technology. He sees them as an excellent take-over target. Yield 0%. (Analysts’ price target is $2.54 )

He says they have assembled a good Monteney holding. The market is not including all the drill targets that he thinks exists. Also, he likes their water flood technology. He sees them as an excellent take-over target. Yield 0%. (Analysts’ price target is $2.54 )

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.600
Owned
Yes
PAST TOP PICK
PAST TOP PICK
March 26, 2018

(A Top Pick June 23/17 Down 18%). This junior oil and gas producer has been a victim of the underperformance of the sector. He still likes the company.

(A Top Pick June 23/17 Down 18%). This junior oil and gas producer has been a victim of the underperformance of the sector. He still likes the company.

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.600
Owned
Unknown
TOP PICK
TOP PICK
June 23, 2017

He is quite bearish on the broader markets, but the sentiment in the energy sector in Canada has been so negative that he thinks it is undervalued. They have no debt and has 900 prime low-cost Montney drilling locations with significant infrastructure and only about 10% of it is dry gas. CEO owns about 30% of the stock. (Analysts’ price target is $3.25.)

He is quite bearish on the broader markets, but the sentiment in the energy sector in Canada has been so negative that he thinks it is undervalued. They have no debt and has 900 prime low-cost Montney drilling locations with significant infrastructure and only about 10% of it is dry gas. CEO owns about 30% of the stock. (Analysts’ price target is $3.25.)

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.850
Owned
Yes
TOP PICK
TOP PICK
October 21, 2016

Probably the next tier down in terms of a Montney player. Montney Northeast BC the main trend, you have Arc Resources (ARX-T) just to the south, Tourmaline (TOU-T) to the west. About a $300 million enterprise value. It has about 170 sections of land, and a big oil window, so there is a lot of latent value. Management has a history of monetizing assets, and own 16% of the company on a fully diluted basis. Key catalysts are to tie-in 4 wells in Q4-Q1 2017.

Probably the next tier down in terms of a Montney player. Montney Northeast BC the main trend, you have Arc Resources (ARX-T) just to the south, Tourmaline (TOU-T) to the west. About a $300 million enterprise value. It has about 170 sections of land, and a big oil window, so there is a lot of latent value. Management has a history of monetizing assets, and own 16% of the company on a fully diluted basis. Key catalysts are to tie-in 4 wells in Q4-Q1 2017.

Dennis da Silva
Managing Director & Sr Portfolio Manager, Middlefield Capital Ltd.
Price
$2.250
Owned
Yes
COMMENT
COMMENT
July 21, 2016

This is early stage, and he tends to focus on companies that generate a significant free cash flow. They have a great balance sheet and a great asset, and are now trying to prove things up and ultimately sell the company. Has a lot of confidence in the team behind them.

This is early stage, and he tends to focus on companies that generate a significant free cash flow. They have a great balance sheet and a great asset, and are now trying to prove things up and ultimately sell the company. Has a lot of confidence in the team behind them.

Mason Granger
Portfolio Manager, Sentry Investments
Price
$1.890
Owned
No
DON'T BUY
DON'T BUY
July 20, 2016

Had problems with drilling a few years back. Prefers companies that have a lot of production growth, and thinks this is more of a play on the land mass. Doesn’t think this is the environment for buying this type of company.

Had problems with drilling a few years back. Prefers companies that have a lot of production growth, and thinks this is more of a play on the land mass. Doesn’t think this is the environment for buying this type of company.

Peter Imhof
Vice President & Portfolio Manager, AGF Investments Inc
Price
$1.890
Owned
No
PAST TOP PICK
PAST TOP PICK
December 23, 2015

(A Top Pick Dec 22/14. Down 41.09%.) Had thought this was oversold from tax loss selling and it had a pretty good run into January. Thinks it will have a good run through January again. Low cost kind of development, which he likes. He would buy this for a trade again.

(A Top Pick Dec 22/14. Down 41.09%.) Had thought this was oversold from tax loss selling and it had a pretty good run into January. Thinks it will have a good run through January again. Low cost kind of development, which he likes. He would buy this for a trade again.

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$0.800
Owned
Yes
PAST TOP PICK
PAST TOP PICK
October 7, 2015

(Top Pick Oct 3/14, Down 50.46%) He was driven out of it by some external circumstances. He thinks it will have a pretty good run-up as things improve. It is probably a late cycle stock.

(Top Pick Oct 3/14, Down 50.46%) He was driven out of it by some external circumstances. He thinks it will have a pretty good run-up as things improve. It is probably a late cycle stock.

Bill Bonner
President & Portfolio Manager, Brickburn Asset Management Inc
Price
$1.070
Owned
No
COMMENT
COMMENT
January 20, 2015

Pretty much a pure play as a natural gas producer in the liquids rich area of the Montney’s. This is more of a resource story than a cash flow story, given that they have locked up around 170 net sections in the Montney fairway, in an area where they have had very good success as has had Tourmaline (TOU-T), a couple of sections away. By his math, this company is going to have to come back to market in 2015 for funding. Sustainability, at today’s prices, might be slightly challenged.

Pretty much a pure play as a natural gas producer in the liquids rich area of the Montney’s. This is more of a resource story than a cash flow story, given that they have locked up around 170 net sections in the Montney fairway, in an area where they have had very good success as has had Tourmaline (TOU-T), a couple of sections away. By his math, this company is going to have to come back to market in 2015 for funding. Sustainability, at today’s prices, might be slightly challenged.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.900
Owned
Unknown
TOP PICK
TOP PICK
December 22, 2014

Natural gas. Doesn’t think there is huge upside, but also doesn’t think there is much downside. Stock had a little selloff last week on a well that had a problem with some equipment. They were rushing to get that well done because they were making a land package acquisition in a competitive situation in the Montney. Arc Resources (ARX-T) is also bidding on land around this company, and he thinks that Arc could take this company out. Even at the current level of commodity prices, he thinks they are going to grow their NAV to $2 a share over this year. One of the very few companies that is fully funded at current levels of commodity prices. His one-year target is $2.

Natural gas. Doesn’t think there is huge upside, but also doesn’t think there is much downside. Stock had a little selloff last week on a well that had a problem with some equipment. They were rushing to get that well done because they were making a land package acquisition in a competitive situation in the Montney. Arc Resources (ARX-T) is also bidding on land around this company, and he thinks that Arc could take this company out. Even at the current level of commodity prices, he thinks they are going to grow their NAV to $2 a share over this year. One of the very few companies that is fully funded at current levels of commodity prices. His one-year target is $2.

James Hodgins
Chief Investment Officer, Curvature Hedge Strategies
Price
$1.290
Owned
Yes
TOP PICK
TOP PICK
October 3, 2014

180 sections in the Montney. The most economic play of any in Western Canada. Liquids rich Nat Gas. It is going to be a great performer this year.

180 sections in the Montney. The most economic play of any in Western Canada. Liquids rich Nat Gas. It is going to be a great performer this year.

Bill Bonner
President & Portfolio Manager, Brickburn Asset Management Inc
Price
$2.180
Owned
Yes
TOP PICK
TOP PICK
September 8, 2014

Markets are fixated on their location. He feels this one is mispriced.

Markets are fixated on their location. He feels this one is mispriced.

Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$2.120
Owned
Yes
WAIT
WAIT
August 25, 2014

They have a very clean balance sheet so they are well funded through 2015. He would pick away at it at $2.

They have a very clean balance sheet so they are well funded through 2015. He would pick away at it at $2.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$2.190
Owned
Unknown
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