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Current Conditions Present Exceptional Opportunity To Accumulate Manitok
- Current issues which Manitok Energy faces to growing their production are not exploration related, but operational – indicating a very high likelihood to being resolved within 6 to 12 months.
- Current management has both the right experience set to solve current challenges and their historical actions demonstrate a mindset appropriate to Manitok’s strategic environment.
- Current macro factors in liquids and gas pricing are an additional contributing factor to its undervaluation.
- When these three temporary conditions ameliorate, Manitok should be trading above 4.00 CAD/share with a horizon of 6 to 18 months under very conservative assumptions.
Manitok Energy: Highly Undervalued And Poised For Price Appreciation
- Manitok Energy Inc. is a highly undervalued junior oil and gas company and it has well over 100% 6-12 month upside and even higher upside longer term.
- The stock is undervalued relative to peers by 125% based on EV/EBITDA, 155% based on EV/Production, and 100% based on EV/1P Proven Reserves, and trades at 2.87x Q1 2014 annualized cash flow.
- Exceptional continuing growth with a debt/cash flow ratio of 0.4 in Q1 2014 and a stated corporate goal of maintaining debt to cash flow less than 1.25x.
- Affirmed guidance on June 19 of annual production increases of +48% and funds from operations +68%, yet it still trades at an irrational discount to peers.
- Due to positive drilling results released last week, it's extremely likely Manitok will hit year-end guidance, causing much of the large discount to unwind.
Keith Schaefer Names The Last-Standing Shale PlaysThe Energy Report • May. 10, 2013
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