Myth465 Posted July 26, 2014 Share Posted July 26, 2014 Humm what makes you say that. Link to comment Share on other sites More sharing options...
Zorrofan Posted July 26, 2014 Share Posted July 26, 2014 Eric Nuttal on Market Call. He is inmo the top O&G Analyst in Canada. Up 45% YTD. I own PWE and Manitok and keep kicking the tires around Lightstream. 3 Names he hates.... Eric Nuttal is a terrible investor Let's see....79.7% in the last year, 19.2% over the last 5 years versus a benchmark that did 7.7% over the last 5 years. I should be so terrible.... http://www.sprott.com/products/sprott-energy-fund/ What makes you think he is such a terrible investor?? cheers Zorro Link to comment Share on other sites More sharing options...
alertmeipp Posted July 30, 2014 Share Posted July 30, 2014 Penn West Announces Management-Initiated Internal Review of Accounting Practices and Decision to Restate Certain Historical Financial Statements Jul 29, 2014 No impact on previously disclosed cash and debt balances Penn West anticipates possible delay in reporting second quarter financial results http://pennwest.mediaroom.com/index.php?s=27585&item=135220 Not good. Link to comment Share on other sites More sharing options...
Myth465 Posted July 30, 2014 Share Posted July 30, 2014 Penn West Announces Management-Initiated Internal Review of Accounting Practices and Decision to Restate Certain Historical Financial Statements Jul 29, 2014 No impact on previously disclosed cash and debt balances Penn West anticipates possible delay in reporting second quarter financial results http://pennwest.mediaroom.com/index.php?s=27585&item=135220 Not good. Would have preferred a billion dollar plus asset sale, but you dont always get what you want. Operationally the results were excellent. I think this is largely noise, but wise they put a bit more color behind it. The release is quite vague and Mr. Market will run with it inmo. Link to comment Share on other sites More sharing options...
Myth465 Posted July 30, 2014 Share Posted July 30, 2014 I dont know. Mr Market is funny. Could see up to 10% or 2%. I think they are getting all the bad news out, and are killing it operationally. Lots to love in that report, but the details get lost with news like this. Oil companies tend to trade on cash flow metrics. Personally the numbers dont matter much. The issue is PWE will be in the dog house for 4 quarters longer. Canada is filled with great ideas. The leaps give you good leverage on a turn, but why bother is what most analyst will say. I cant blame them, they cant recommend the idea with leaps and its not so attractive without them. Link to comment Share on other sites More sharing options...
Guest 50centdollars Posted July 30, 2014 Share Posted July 30, 2014 Sum of the part on PWT: Sum-of-the-Parts Net Asset Value Summary NAV Per Share Cardium Upside $4.51 Viking Upside 1.38 Spearfish Upside 0.61 Northern Carbonates Upside 1.36 Cordova Shale Gas Project 0.42 Seal Oil Sands Project 0.69 Combined Development Upside $8.97 2P Reserve Blowdown (net of debt) 5.61 Net Asset Value Per Share @ 10% $14.58 Link to comment Share on other sites More sharing options...
gordoffh Posted July 30, 2014 Share Posted July 30, 2014 opened a small position at 8.63 will average down on additional weakness Link to comment Share on other sites More sharing options...
phil_Buffett Posted July 30, 2014 Share Posted July 30, 2014 i sold my Position a few weeks ago with a 35% gain in pwe. now iam back in. i bought a Position. maybe buy more if it Drops more. Link to comment Share on other sites More sharing options...
gordoffh Posted July 30, 2014 Share Posted July 30, 2014 added again at 8.42 also a flyer on a buy at 8.01 Link to comment Share on other sites More sharing options...
tyska Posted July 30, 2014 Share Posted July 30, 2014 Wow quite the reaction on PWT. I'm no accountant, but from reading what they are saying (assuming it isn't smoke). It doesn't affect cash or debt numbers, so they were just allocating expenses wrong to make things look better in the past than they were. If numbers are changed to make the past look worse, that hardly changes were the company is headed now. They sure have made some spectacular gains in the time to drill wells. Link to comment Share on other sites More sharing options...
alertmeipp Posted August 2, 2014 Share Posted August 2, 2014 Not a nice last few weeks on this sector, lots of gain wiped out. I got back in LTS.TO and PWT.TO, nice that they got a few deals done while the sector is hot. Added to MEI as well, seems on track for 7500 exit, that alone worth the current market cap is not more. The pricing deck is still robust for Canadian producers. Are you guys still ride this trend? Keystone and LNG are two remote but nice potential positives for this sector.. Link to comment Share on other sites More sharing options...
alertmeipp Posted August 8, 2014 Share Posted August 8, 2014 well, the market never take it easy on lowering of guidance especially during the time when the sector is so weak. LTS down 8%. The funds flow is the same because of the higher commodities pricing and lower capex. Ugly last couple months, hope you guys did take some profits off before the correction. Link to comment Share on other sites More sharing options...
phil_Buffett Posted August 8, 2014 Share Posted August 8, 2014 well, the market never take it easy on lowering of guidance especially during the time when the sector is so weak. LTS down 8%. The funds flow is the same because of the higher commodities pricing and lower capex. Ugly last couple months, hope you guys did take some profits off before the correction. indeed a ugly time right now. i sold my pwe at around 35% gain but go back in manitok and lightstream to early. in the red now. also buy back pwe at the huge drop Link to comment Share on other sites More sharing options...
alertmeipp Posted August 8, 2014 Share Posted August 8, 2014 Manitok has couple top producing wells in June in an Alberta publication. No link. Found that interesting as usually these type of wells don't come from company that trade at low multiple. Not sure if anyone was listening to lightstream call, but many push for a buyback. Will be interesting. I think they may if they get a good bid on its 4.5k 90 percent oil asset Link to comment Share on other sites More sharing options...
tyska Posted August 8, 2014 Share Posted August 8, 2014 If I wasn't holding both PWT and LTS it would be funnier. But the buzz was always that not having their debt under control was holding them back in the market. Both have been making significant gains in getting their debt under control, but now there are smaller, almost insignificant things that are the focus. Link to comment Share on other sites More sharing options...
alertmeipp Posted August 9, 2014 Share Posted August 9, 2014 PWT still needs to sell about 1 billion of assets and LTS probably around 400m to get their debt in line with others. After that, it will be all execution and commodities price. On execution front, PWT seems already becoming the best in its class. LTS is right to call off Swan Hills for now, why waste capex if you don't know what is going on, I hope those wells will be put back on the capex shortly. Link to comment Share on other sites More sharing options...
alertmeipp Posted August 14, 2014 Share Posted August 14, 2014 What a steep sell off, I pretty much rebuilt my lts holding today. 8 percent yield. Oil price is a big concern for me obviously. Link to comment Share on other sites More sharing options...
bizaro86 Posted August 19, 2014 Share Posted August 19, 2014 Manitok has couple top producing wells in June in an Alberta publication. No link. Found that interesting as usually these type of wells don't come from company that trade at low multiple. Not sure if anyone was listening to lightstream call, but many push for a buyback. Will be interesting. I think they may if they get a good bid on its 4.5k 90 percent oil asset Alert do you recall which publication that was? I'd like to look it up if possible. Daily oil bulletin, maybe? Link to comment Share on other sites More sharing options...
alertmeipp Posted August 19, 2014 Share Posted August 19, 2014 I think it's from AltaCorp Capital, Alberta top wells. Link to comment Share on other sites More sharing options...
fareastwarriors Posted August 20, 2014 Share Posted August 20, 2014 Riskiest Oil Projects Are in Canada http://www.businessweek.com/articles/2014-08-15/the-biggest-oil-projects-need-high-prices-to-make-sense#r=nav-fs Link to comment Share on other sites More sharing options...
bizaro86 Posted August 20, 2014 Share Posted August 20, 2014 Riskiest Oil Projects Are in Canada http://www.businessweek.com/articles/2014-08-15/the-biggest-oil-projects-need-high-prices-to-make-sense#r=nav-fs I have a pretty deep familiarity with one of the projects on that list, and their numbers are not even close to reality. Critical thinking also suggests consider the bias of the source. From the "objectives" page of carbontracker.org, who generated this: We know that the financial markets can be structurally flawed, and that an inadequate response to climate change is one of these failings. Link to comment Share on other sites More sharing options...
alertmeipp Posted August 28, 2014 Share Posted August 28, 2014 MEI just released some lousy numbers due to facilities issues. Wont be good tomorrow. Funds flow cut by 30 percent. Link to comment Share on other sites More sharing options...
ODLUM Posted August 29, 2014 Share Posted August 29, 2014 Anyone buying MEI today? Link to comment Share on other sites More sharing options...
gordoffh Posted August 29, 2014 Share Posted August 29, 2014 just picked some up at 2.23 a little overdone i think Link to comment Share on other sites More sharing options...
alertmeipp Posted August 29, 2014 Share Posted August 29, 2014 4x after the revised guidance. Not expensive but not as cheap as it used to be. I missed their call and seems there is no replay. Anyone know how the issues will fix itself over time? Debt is up, dont think it can do 100m capex next year. Entice is mixed bag so far. The only thing positive is they can now buy back more shares. 7k average was never priced in. Link to comment Share on other sites More sharing options...
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