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Nawar Alsaadi  

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  • Gasfrac Energy: Fractured Dreams And The U.S. Potential [View article]
    BF, the size of the Husky contract is taken from Raymond James estimates, as well as, Gasfrac management comments in Q4 CC about the proper quarterly size for the Husky business.

    Regards,
    Nawar
    Apr 17, 2012. 09:04 AM | 2 Likes Like |Link to Comment
  • Gasfrac Energy: The Intel Of Fracturing? [View article]
    They don't need additional capital right now, they have enough capacity to generate four times more revenues without adding more capacity.

    Regards,
    Nawar
    Apr 9, 2012. 02:49 PM | 2 Likes Like |Link to Comment
  • Gasfrac Energy LPG Fracturing Chosen In New York [View article]
    GA, I think a price under $7 is quite attractive, however if the market weakens, you may very well get it at the range you have indicted.

    I couldn't agree with you more on execution; I believe the current CEO has the operational experience to execute on his strategic vision; we are still in the early stages of his involvement, the next couple of quarters should provide more colour on his ability to execute.

    Regards,
    Nawar
    Apr 9, 2012. 01:28 PM | 2 Likes Like |Link to Comment
  • Equal Energy Vs. Its Shareholders [View article]
    Thank you for the kind words dec, I do indeed spend a lot of time researching and analyzing investments of interest.

    In regards to your specific questions:

    Debt & Dividends:

    I believe after the restructuring, the debt to cash flow ratio will be low enough to allow for dividends, at 1.3 ratio, Equal will have one of the lowest debt ratios within its peers (who average 1.8 D/CF). Furthermore, once the Mississippian crude production starts contributing to cash flow, the debt ratio will dip further still, this additional cash could be used to lower debt further if desired. It is worth noting that the majority (70%) of the remaining $65m debt is long term debt maturing in March 2016, thus the company has ample room to manage/refinance its remaining debt over the next few years.

    Selling the company/assets:

    As you correctly highlight; selling the NG assets at the bottom of the cycle does not make sense. Thus the plan of divesting the oil assets first (top of the cycle), converting the NG/NGL assets to a trust, paying a dividend and eventually once NG prices rebound, and the Mississippian is further developed, a sell of the remaining assets could be envisaged.

    Equal is in the advantageous position of having a diverse asset base; this allows for the possibility to unlock value in stages: 1) divestiture of the Canadian oil assets, 2) Trust the remaining NG/NGL and early development Miss. assets, and 3) selling the trust if appropriate at some point, or possibly continue to run it as an income vehicle.

    It is our goal as active shareholders that management will seize on the flexibility available to it and proceed to unlock value for the benefit of the long "suffering" Equal shareholders.

    Regards,
    Nawar

    Apr 3, 2012. 12:11 AM | 2 Likes Like |Link to Comment
  • Why Groupon Is Poised For Collapse [View article]
    I command you for pointing the red flags at GRPN; writing articles of this nature is not easy; I recently wrote a quite negative article on Poseidon Concepts (POOSF.PK) and got crucified for it, despite being right so far.

    Looking forward to your future contributions on SeekingAlpha

    Regards,
    Nawar
    Apr 1, 2012. 02:16 PM | 2 Likes Like |Link to Comment
  • Gasfrac Energy LPG Fracturing Chosen In New York [View article]
    Hi There,

    I don't see Gasfrac being much of a threat to Heckmann at this stage; Gasfrac continue to be minuscule in relation to the overall size of the fracturing market; furthermore Gasfrac LPG incremental production in certain formations does not justify the additional cost for the technology; thus I see those two business co-exiting each serving the market where it works best.

    Regards,
    Nawar
    Mar 30, 2012. 05:22 PM | 2 Likes Like |Link to Comment
  • Gasfrac's Fracturing Process Gets Coveted Chevron Endorsement [View article]
    GA; this doesn't have any meaningful impact on Gasfrac; this is mainly an issue for the oil sands, where Gasfrac is not concerned. As for the Bakken Gasfrac does not operate there, nor current prices are slowing production in that basin.

    Regards,
    Nawar
    Mar 29, 2012. 10:01 AM | 2 Likes Like |Link to Comment
  • Gasfrac's Fracturing Process Gets Coveted Chevron Endorsement [View article]
    The US pink sheet listing has naturally very little institutional ownership; however institutions own 28% on the TSX:

    http://bit.ly/GXqKsI

    Regards,
    Nawar
    Mar 28, 2012. 06:19 PM | 2 Likes Like |Link to Comment
  • Gasfrac's Fracturing Process Gets Coveted Chevron Endorsement [View article]
    Major win for Gasfrac in NY this morning, could be the first process to be allowed for fracking in NY:

    http://bit.ly/HgHOcH

    May do an article on that sometime down the line.

    Regards,
    Nawar
    Mar 28, 2012. 04:22 PM | 2 Likes Like |Link to Comment
  • Gasfrac's Fracturing Process Gets Coveted Chevron Endorsement [View article]
    Thanks for your comment valk. The company is listed on the Toronto Stock Exchange (TSX) under the symbol GFS; they also plan to list next year in the US in a major market such as the NASDAQ.

    Regards,
    Nawar
    Mar 28, 2012. 02:06 PM | 2 Likes Like |Link to Comment
  • Gasfrac's Fracturing Process Gets Coveted Chevron Endorsement [View article]
    Craig,

    This is not a charity endorsement, as a matter of fact your second paragraph pretty much answers the first one; the fact it took them that long to vet and test the technology before endorsing it, should give further credence to that endorsement.

    As for the stock price, I don't believe the price reflects the significant progress the company experienced over the last 12 months; if it did, it wouldn't be an attractive investment at those levels.

    Furthermore, choosing to focus on the 12 months performance is quite disingenuous and arbitrary, if we were to look at share price performance since their IPO in August 2010, the stock is up 35%, one gets the sense that there is something right with the company or the process.

    Regards,
    Nawar
    Mar 28, 2012. 12:57 AM | 2 Likes Like |Link to Comment
  • Equal Energy: An Unparalleled Opportunity [View article]
    Yes Steve, Don is very conservative, their Mississippian basically hold the same potential as the core SD Mississippian play, but unlike SD he is not "hyping it", this means once they start producing from their joint venture, there will be room for an upside surprise.

    In my talks with the CFO they mentioned that they were expecting a deal in Q1, Don confirmed it today, by saying that a deal will be signed in March, I believe the stock could run to the $6-$7 range once a deal is signed for the Mississippian. A reason for the pop is not just their Mississippian exposure, but the entirety of their asset base in undervalued, a deal could finally shade some light on the company.

    Regards,
    Nawar
    Feb 22, 2012. 12:55 AM | 2 Likes Like |Link to Comment
  • Equal Energy: An Unparalleled Opportunity [View article]
    For those still following Equal, the company CEO just gave a presentation at the Enercom Oil Conference in San Francisco, you may listen to the webcast here:

    http://bit.ly/xc5QTi

    couple of highlights from the presentation:

    - Viking locations could go as high as 250 (current published 150, which was already up from 90 in late 2011)
    - Hunton high locations count is 60 (current published 40)
    - Hunton still yielding 22% to 38% IRR at current strip pricing (NG, oil, NGL)
    - Mississippian deal (farm out) announcement expected next month

    Regards,
    Nawar
    Feb 21, 2012. 12:28 PM | 2 Likes Like |Link to Comment
  • Halliburton Stands To Profit By Addressing Environmental Concerns [View article]
    One way to deal with the environmental concerns is waterless fracking; Gasfrac has done over a 1000 fracs with gelled propane, no water is used, no waste water is produced (no need for injection wells), reduced Co2 emissions, reduced truck traffic (from 1000 per well to 30), and on top of that LPG fracking has been demonstrated to enhance well reserves and productivity. I expect Gasfrac to be acquired by one of the larger oil service companies in the next 24 months.

    Regards,
    Nawar
    Feb 20, 2012. 12:01 AM | 2 Likes Like |Link to Comment
  • Gasfrac Energy: New Evidence Of Superior Production Results [View article]
    I would like to make a correction, in my original article I highlighted that Chevron/Hal own the LPG patent; HAL is actually not involved with patent at all; it is only Chevron.

    Regards,
    Nawar
    Feb 11, 2012. 02:39 PM | 2 Likes Like |Link to Comment
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