TransGlobe Energy Corp fka TGA

[THREE-DAY-TRADER]

$TGA... I started a position here in afternoon.
I think 1.99 likely short term bottom (including a possible good spot long term, and usually I do not mention long term, which similarly in past years I had said about TNK in 2013 & HBAN in October 2011 for long term investment turn around stories)

Great potential turn around story here.
Also it has Dividend record date December 15 upcoming (so own by Dec 10 before ex-div for anyone interested in also qualifying for that .025 div).
I think TGA will keep the dividend in 2016. Maybe they might consider lowering it to .01 area, however based on the financials, low share structure, it seems they can afford the dividend as it is now and that they also based upon heir latest quarterly commentary, they have budgeted already for it thru 2016 along with their capex drilling programs, etc.
By 2017, after we likely see Crude Oil & business consolidate, they are a likely candidate to return to raising back up their dividend.
A great potential opportunity here short term and perhaps longer term.

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A short term trade opportunity for a reversal toward 2.50-3's likely in my opinion.
Maybe it is not fully bottomed yet, but i think it is short term very close. Personally I think most likely done going down after today.

{Also take a look at my $ENPH recommendation last Thursday... Refer to ENPH board}