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Wilson Wang  

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  • Don't Discount David Einhorn [View instapost]
    @Bobcat9,

    The report is erroneous.
    Sep 3, 2015. 01:27 PM | Likes Like |Link to Comment
  • Don't Discount David Einhorn [View instapost]
    http://bit.ly/17oS1xs

    Please check the facts.
    Sep 3, 2015. 02:29 AM | Likes Like |Link to Comment
  • Bellatrix Exploration - The Next Peyto [View article]
    Thanks for the kind words Chris! Great interview!
    Aug 31, 2015. 10:29 PM | 1 Like Like |Link to Comment
  • The #1 Stock In The World [View article]
    I think investors should wait for contango... but then again... who am i to tell anyone what to do.
    Aug 31, 2015. 12:35 PM | Likes Like |Link to Comment
  • Bellatrix Exploration - The Next Peyto [View article]
    It is. This is to keep productions flat. Next year capex will be C$140 mil. 15 mil in infrastructure + 25 mil in gas plant.
    Aug 27, 2015. 04:44 AM | 1 Like Like |Link to Comment
  • Bellatrix Exploration - The Next Peyto [View article]
    Hi AchillesValue,

    Thanks for the question, and it's a very valid one.

    Cost assumptions are built out using capital efficiency of around C$8,000 boe/d. Capex figures include the cost of replacing the production decline (35%) and additional capex required to grow productions.

    Peyto's FD&A includes infrastructure investments hence why it's a bit high looking at it from a glance.

    2018 for BXE does not include capex for plants, 2017 includes 40 million associated capex with regards to plant phase II.

    Please let me know if you have any other questions,

    Wilson
    Aug 27, 2015. 03:46 AM | 1 Like Like |Link to Comment
  • Bellatrix Exploration - The Next Peyto [View article]
    There are no intentions to sell additional midstream assets associated with Spirit River. There could be sell of midstream in other plays.

    Perhaps, you should reach out to Orange and BXE to get a better sense of the overall direction? We have and that's why we wrote it.
    Aug 25, 2015. 10:45 AM | 4 Likes Like |Link to Comment
  • Update On Crude: Now Is The Time To Turn Mildly Bullish [View article]
    Paulo, short, but concise article.

    The production numbers could've been elaborated further, but no one really knows exactly where production numbers are.

    The most interesting tidbit is the current bullish speculators number. It has decreased and that's very comforting for contrarians like myself.

    http://bit.ly/1KIqPgf

    Zach Schreiber talks about oil at the 17 minute mark. He's the one that called the top.

    Best,

    Wilson
    Aug 24, 2015. 05:14 PM | 1 Like Like |Link to Comment
  • Update On Crude: Now Is The Time To Turn Mildly Bullish [View article]
    That's heavy crude, and WTI is light sweet crude. That's a pretty big difference.

    Canada also has infrastructure constraints. So even if you want to buy the oil, you can't.
    Aug 24, 2015. 05:11 PM | 1 Like Like |Link to Comment
  • NOW, Inc. - Now Is The Time To Buy [View article]
    To quote Peyto's CEO Darren Gee, "The only time to invest in a commodity business is when no one's investing."
    Aug 5, 2015. 12:21 PM | Likes Like |Link to Comment
  • After The Recent Rout Micron Is A Very Strong Buy [View article]
    Russ, do you think there's further downside from here?
    Aug 3, 2015. 12:57 AM | 2 Likes Like |Link to Comment
  • NOW, Inc. - Now Is The Time To Buy [View article]
    I think that's a very fair statement. I agree that this stock will test the patience of the "long-term" investor.

    It is a cyclical industry, but the companies that have the biggest scale also has the greatest local economies of scale. That coupled with IOCs consolidating provides for tremendous tailwind once the economy recovers. I refer to the business model as counter cyclical. It reminds me a lot of Peyto, which is an O&G comp that has a counter cyclical business model because of its lean cost structure. Cyclicality provides both risk and return.
    Jul 29, 2015. 01:59 PM | 2 Likes Like |Link to Comment
  • NOW, Inc. - Now Is The Time To Buy [View article]
    Very insightful comments. I think all the comments are very helpful in our investment process as well, and we welcome more inputs.

    We've added at these levels, and if it gets lower, that's fine with us. I think there's a lot of headwinds going forward with regards to the E&P sector. A lot companies will downsize exploration teams, and it's shown in the rig count numbers. Historically speaking, it has correlated quite close with rig counts. I really think DNOW is a long term investment, perhaps my title on the article is a little deceiving, but I do think the time to consider a buy is now. The sentiment is awful, and with the counter cyclical cash flow profile + m&a at dirt cheap valuation, it really helps enhance the underlying value of the business.

    Could it be bought cheaper here? Definitely, but I don't have a crystal ball, so i try and be as disciplined as i can with my buy and sell timing.
    Jul 28, 2015. 04:36 PM | 2 Likes Like |Link to Comment
  • NOW, Inc. - Now Is The Time To Buy [View article]
    Agreed. MRC is hugely attractive at this valuation.
    Jul 28, 2015. 04:31 PM | 1 Like Like |Link to Comment
  • NOW, Inc. - Now Is The Time To Buy [View article]
    Agreed. 17% of the float is shorted, there has to be a good reason?

    We were initially short this in the 30s, the valuation didn't make sense, but covered as we really liked the business after careful analysis.

    There's a lot of scale advantages in the distribution business model especially when IOCs start to consolidate. It will be interesting, but there's definitely risk. I think the DNOW short report is publicly available on VIC, and the author had a pt of 15-20.
    Jul 28, 2015. 02:13 PM | Likes Like |Link to Comment
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915 Comments
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