Tidewater Midstream and Infrastructure Ltd (TWM-T)

He sold their holdings in January after the CEO left abruptly in December. They are experiencing cost over-runs on a big project.

Very cheap, especially relative to peers. More expensive when you take debt into account for the size of its market cap. Issues executing. Debt's come down a lot. Upside if they can continue to grow the business. Yield is around 4%.

It is at a good entry point but is high risk. The renewable component had a big cost over-run. The new CEO is trying to re-work the assets. Tidewater Renewable Diesel is a very good asset but it still has to get the refinery working.

Recent earnings: 
EPS was a loss of 7c versus an expected gain of 3.2c. EBITDA did increase 12%, though. 
Cash flow per share increased 18%. 
Debt remains high at 2.9X EBITDA, though just within the company's targetted range. 
A couple of brokers lowered target prices on the results. 
While a miss is a miss, the reaction to us seems a bit harsh, based on the fundamentals. 
Unlock Premium - Try 5i Free

He'd pick TWM, as it has better growth prospects for production. ATH is a cash generator with a long history. 

Oil service business that also owns refinery.
Expecting higher energy prices to benefit company.
Owns shares in company and would recommend buying.
Profitable company that expects to do well.