Lentinman.... Canadian juniors
Terra Energy TTRHF.pk
Lost money for q2. Said wet weather and shutdowns for maintenance caused them to fall short of projected increases. Do have several completed wells that will contribute. Supposed to double from 2000 to 4000boepd by 12/31/05. Didn't back off of guidance but production did fall from 2500 in q1 to 2270 in q2. Holding.
Diaz Dzrff.pk
Slightly disappointed that first Harmattan well was dry hole and that production didn't go up as much as I expected it to. Could also have been affected by wet weather. Texas ngas is now flowing and contributing. Still like Canadian oil and Texas ngas combo. Should improve in q3&4. Holding.
Rival Rgylf.pk
Just finished good qtr. Avg 789bpd last year. Guiding for 1200 by end of q3. Nice jump in stock. Seems to be moving forward. Will buy more if stock pauses a bit.
Choice czekf.pk, Had positive reserve report, 15 yrs of reserves. Big project is deep ngas prospect at Pincher Creek. Drilliing horizontal now and should be done by late Sept/early Oct. Could be a company changer. Already at 1349boepd and profitable. If Pincher Creek doesn't work, this is still a very cheap energy stock from the standpoint of cashflow to price, at 4.4 times. Very good stock due to 100% ngas production. I am adding to Choice based on Pincher Creek potential and cheap ngas reserves. Pincher Creek could be 10-35,000 mcfpd. Choice is operator and owns 52.5% working interest after payout of costs.
These are the four juniors that I mentioned as my favorites and Choice is now my favorite of the 4 followed by Rival, Diaz and Terra.
I own 8 other Canadian energy stocks so I thought I would list and review them while I'm at it.
CFK Oil services firm. Just finished seasonally weak qtr. Made record profits of .14 after earning .34 in q1. Made .35 all last year so eps will be more than double. Should earn over $1 in 2006 vs $8.88 price today.
DSCZF.pk Destiny is another oil services firm. This one is smaller and recovering from losses last year. Seems to be on the right track after selling some divisions. Made .17 and .35C$ in q1&2 and declared .20 dividend payable 9/15/05 versus C$9 stock price.
HPNOF.pk High Pine just merged/bought my stock Vaquero. Also had wet weather problems so production was not up as much as expected. Merger should double size of company.
Vaquero and High Pine both had substantial holdings in Pembina area. Holding, good quality company, decent production for a junior in the 4549 boepd range for q2. Broke even due to maintenance on plant during qtr.
KRSYF.pk Kroes is a tiny driller in Ukraine. Producing 250bpd. Has two new wells that should bring net up to 300+ by end of this qtr. Profitable and drilling from existing cashflow. Large reserves but small production. Low market cap compared to reserve size.
PBEGF.pk, triple threat with Canadian heavy oil process, CBM and Columbian oil production. Heavy oil process called THAI. Looks interesting. Cheaper and less resource intensive than SAGD. Promises to bring up more of reserves and do partial upgrade of petroleum in the ground.
PCXF.pk Petrofalcon has been operating in Venezuela for many years. Have significant native members of board. Seem to coexist on workable terms with Chavez govt. Hooking up big gas field to new govt pipeline this fall/winter. Helping fuel largest refinery in the world.
RCRKF.pk Rock Creek has been bought by Great Plains Exploration, Gpx. Combo should be a good sized junior driller.
TIVPF Small ngas driller that looks like it's close to moving into profitable operations. Still lost for q2 so just holding.
Canada has an amazing number of resource companies. TGA is my top holding and is currently drilling 35 ngas wells in Canada. Overall a great place to find undervalued energy stocks. Canada has lots of raw land to explore for oil and Canada also has coal for CBM drilling that is just getting started. Has many gold, silver and uranium companies. Perfect time for Canadian companies and stocks to excel during this commodities boom. Bobwins
Please post stock symbols first in all your posts. If it's a foreign stock, please list the US pk equivalent symbol.
If the Commodities Boom is Over, I am just a Gold Bug headed for the Windshield of LIFE
