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Michel Massaad

 
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  • High North Resources: Montney Oil Junior Hits The Ground Running [View article]
    It's only a matter of timing (spring breakup is right around the corner.)
    Mar 11 08:39 PM | Likes Like |Link to Comment
  • High North Resources: Montney Oil Junior Hits The Ground Running [View article]
    It looks like you only skimmed through the piece....

    Long Run Exploration is the one paying a dividend and plans on drilling 44 of their 80 wells for 2014 on their Montney oil play around High North's acreage. This fact indicates the play is PREDICTABLE AND REPEATABLE ie the play has been de-risked as it is currently fuelling production growth and funding part of LRE's dividend.

    HN is currently producing more than 350 bopd per day. I don't know where you got your no revenue part.

    It looks like your comment was only a plug for ARC Resources...
    Mar 11 08:37 PM | Likes Like |Link to Comment
  • Taipan Resources: A Junior Explorer Hunting Elephants In Kenya [View article]
    Hey SB,

    Hype, yes around Pearl simply because with Sala drilling, the hot money will be pouring in as we approach the results in the next 60 days. Besides that, HIGH RISK was in caps for a reason, this is an exploration well witha 30% COS at BEST.

    At 45% WI in Block 2B, they still can farm down in exchange of cash. Let's not forget that the deal with Premier provides for some back costs. They probably spent more than the $1M they netted.

    For the CPR numbers, please see News Releases on Feb 3 & 13 on their website.

    Cheers,
    Mar 3 08:47 PM | 1 Like Like |Link to Comment
  • Taipan Resources: A Junior Explorer Hunting Elephants In Kenya [View article]
    Hi Kenya,

    Thanks for your input on the differences between Pearl and Sala!

    I focused on Pearl for 2 reasons: 1-Sala is currently drilling and 2-because at 45% WI, the company can still come out with a new JV announcement generating immediate cash.

    Cheers,
    Mar 3 08:38 PM | 1 Like Like |Link to Comment
  • PetroBakken Energy 2013 Outlook [View article]
    Agree John,

    Until Canada gets its act together with East/West pipelines, oil price volatility will reign.
    Jan 29 10:51 AM | Likes Like |Link to Comment
  • PetroBakken Energy 2013 Outlook [View article]
    TJ, you might not see it now but you will see it if the price of oil drops below $80, the market will adjust the stock price and prices in a dividend cut.

    This is indeed a stock for aggressive investors. PBN can improve its fundamentals greatly if it divests some non-core holdings. The balance sheet needs some work right now. I just don't see CDN oil averaging $100 this year, a price that would allow PBN to fully fund the dividend from internally generated CF.
    Jan 26 02:03 PM | Likes Like |Link to Comment
  • PetroBakken Energy 2013 Outlook [View article]
    I enjoyed reading your feedback Blue,

    Living on the edge sure fits the company's financials. Cutting the dividend by half would improve its payout ratio but PBN would still be in a deficit of $100+ million excluding DRIP. The key here is the price of oil, CDN oil that is. If oil prices in Canada were to slip below $80, the stock will come under increasing pressure reflecting a higher risk to the dividend. The Stock is very sensitive to the price of oil in my opinion and that sensitivity can only be addressed through de-leveraging the balance sheet.

    This is not the perfect income vehicle for retirees, that's for certain!

    PBN would come out much stronger if the dividend is halved by half and the debt reduced to below 1.5x DCF. That's the day I would probably consider buying in. For now, I'd rather go with Bonterra Energy which I last wrote about. Sure it only yields 7% instead of 10% but I would worry much less with BNE (DCF <1 & Dividend fully funded).

    Any PBN investors reading this article should ask themselves if they are comfortable with the POR & the DCF ratio. This is what I wanted to highlight the most.

    Cheers,
    Jan 25 02:43 PM | 2 Likes Like |Link to Comment
  • PetroBakken Energy 2013 Outlook [View article]
    As long as the dividend is safe, the downside to the stock price will be limited. You bring a good point with the Petrobank deal that may also partially explain the recent slide.

    Looking forward into 2015, the market dynamics will be very different for the Canadian sector, so I am totally in line with your assessment. In 2015, I expect Canadian oil and natural gas companies to sport higher stock prices unless of course humanity finds a way to replace both oil and gas - highly unlikely.

    In the meantime, $8.80 looks like a good entry point and with a little bit of patience, there's some good upside.
    Jan 25 11:01 AM | 4 Likes Like |Link to Comment
  • PetroBakken Energy 2013 Outlook [View article]
    The distribution is safe as long as the price of oil holds. Edmonton Par is above $85 which is even better than the scenario modelled above. Let's hope it holds during 2013.
    Jan 25 10:57 AM | Likes Like |Link to Comment
  • PetroBakken Energy 2013 Outlook [View article]
    I don't believe TOL's acquisition is imminent. So, like you, I may buy TOL as well but I'll be taking my time as I believe we may see lower prices courtesy of the upcoming debt drama and spring breakup.
    Jan 25 10:56 AM | Likes Like |Link to Comment
  • Eagle Energy Trust Dividend Sustainability Outlook For 2013 [View article]
    DrJay,

    This is not a play on the Eagle Ford. Check their presentation for a more information.
    Jan 6 04:13 PM | Likes Like |Link to Comment
  • Eagle Energy Trust Dividend Sustainability Outlook For 2013 [View article]
    Hi LuckyM,

    Here's the link to their DRIP plan

    http://bit.ly/YZ3RPh

    However, it seems it's only limited to Canadian residents for now.
    Dec 29 09:02 PM | Likes Like |Link to Comment
  • Eagle Energy Trust Dividend Sustainability Outlook For 2013 [View article]
    Jimmy, so little action on the US listing, the stock trades north of 100,000 shares a day on the TSX.
    Dec 21 09:25 AM | Likes Like |Link to Comment
  • Eagle Energy Trust Dividend Sustainability Outlook For 2013 [View article]
    Their COO already paid for missing guidance earlier, I like the fact that there's accountability. Going into next year, I believe they will deliver on guidance which is why I am still holding my position.
    Dec 18 03:04 PM | Likes Like |Link to Comment
  • Eagle Energy Trust Dividend Sustainability Outlook For 2013 [View article]
    aretailguy, I did not know they were not registered with the DTC as I hold it using the Canadian symbol EGL-UN.TO.

    Cheers,
    Dec 17 05:30 PM | Likes Like |Link to Comment
COMMENTS STATS
22 Comments
16 Likes