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BUY
A great name. Has a lot of exposure to Cuba so it is hard to see it been taken over. Very inexpensive on a cash flow multiple basis. You can buy this one, hold it, add to your holdings but just be patient.
integrated mines
SELL
The big problem is that there is no evident strategy for the company. Have a new CEO but have not been able to articulate a strategy. It is cheap and there is potential with the Vietnamese and Malaysian blocks which could have some upside surprises. You may be waiting a long time.
oil / gas
DON'T BUY
(Caller's comments; Going back to a corporation. Will be paying a 6% dividend and moving a lot of their operations to the US.) One of the first test cases of conversion from a trust. Drilling in Canada is really a problem right now. When gas prices come down, drilling contractors get laid off. US is a highly competitive market and while they may have better rigs, results of a move there is yet to be seen. A good name, but wouldn't be backing up the truck.
oil / gas field services
HOLD
Algerian gas play. This is a name that you could start to get a little more excited about. They completed an engineering and design study. They need to secure $750 million and will likely get it. Once they start producing it will probably get some interest by the market. It's a May-June story.
oil / gas
BUY
Has good value in it. Could have a very un-levered balance sheet and isn't trading at an enormous multiple.
oil / gas
DON'T BUY
Very short reserve life index of about 5 years. Also gas weighted.
oil / gas
HOLD
With most trusts, what has been supporting them has been the yield from distributions. Probably have 10% to 15% downside risk when they revert to a corporation. This is one of the older ones and has some prospects in the oil sands, but right now it is sort of stuck in the middle without a clear-cut strategy. Thinks it will do okay.
oil / gas