Value Microcaps Junior Energy

[curlews]

Bill Bonner likes MEI.v/MKRYF

An excerpt from Oiljack's board on IV: this was in a list of analyst best ideas. Not sure of the date, but I would guess it was some time in December. Manitok actually had an exit rate of 5550 boepd for 2013. MEI closed yesterday at 2.48, half his target price.

Bill Bonner
President, portfolio manager and managing director at
Brickburn Asset

His pick: Manitok Energy (TSXV: MEI)

Manitok is one of the rare companies that have grown by
the drill bit, rather than by acquisition. The company’s team
worked the foothills region of Alberta together at a major
company, then parlayed its expertise with Manitok’s play at
Stolberg, where it drilled 17 successful wells. Although
Stolberg is a long way from being fully exploited (there are
at least 20 more locations to optimize primary recovery),
the company increased its prospect inventory with a farm-in
from a major company at Entice, Alberta. Manitok has
identified more than 50 leads on the Entice lands using well
log data and seismic data gathered by the major.

Manitok Energy
Manitok trades for slightly over 2.5 times 2014 cash flow, has an ultra-conservative balance sheet with less than one year
debt-to-cash flow, has visible production growth and will exit 2013 at 5,000 boe/d. Based on Manitok’s success to date and
the prospectivity at Entice, there is no reason the stock should not command a premium to its peers. Our target price is $5.

Read more at http://www.stockhouse.com/companies/bullboard/v.mei/manitok-energy-inc#Zsw4bdgT3CesWZpz.99