Devon Shire
Long only, newsletter provider, oil & gas, small-cap

Legacy Oil And Gas: Oil Reserves At A Discount

The past nine months have been painful for investors with exposure to the Canadian resource sector. The smaller the company, the greater the pain.

Here is the chart for the TSX/S&P Venture index, which unfortunately is where I do most of my hunting for investment opportunities.

(click to enlarge)

From a high of 1,700 early in 2012, the index has fallen to 1,190 today. That is a decrease of 30% for this large group of resource focused companies. That is a big decrease for an individual company. For an entire index, it is a collapse.

Because of this collapse and because of the valuations I'm seeing, I think the Canadian market is a great place to search for bargains after...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details