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Birchcliff Energy: Dramatically Oversold And Offering 50% Upside
- Birchcliff Energy has dropped 40% since June on irrational selling of a natural gas stock based on falling oil prices.
- The company is growing per share production at a 27% clip, yet has a P/E of only 12.
- First half 2014 EPS came in at $0.44/share - up 400% compared to last year.
- The company's current estimated EV is trading at a discount to proved reserves NPV-10.
- This stock could easily return 50% over the next year. Birchcliff is a STRONG BUY.
Birchcliff Energy: A Fast Growing Natural Gas Play
- After reporting strong Q2 results the company raised 2014 guidance.
- Grew production 30% Y/Y and are expected to finish the rest of 2014 strong.
- Extremely attractive land position with great 2P reserves and lots of potential new wells.
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Sep. 19, 2013, 6:55 PM
- This week marks the five-year anniversary of TransCanada's (TRP) application for approval of the Keystone XL pipeline to carry Canadian crude directly to the U.S. Gulf coast - a process originally expected to take 18-24 months.
- TRP says it’s not prepared to wait out the Obama administration, but it has already spent ~$2B on KXL, mostly for segments of pipe and pumps but also for rights-of-way and permitting.
- But not everyone in the oil patch thinks the project’s delay is such a bad thing: Birchcliff Energy (BIREF.PK) CEO Jeff Tonken says the White House’s slow-go approach has forced Canada to look hard at other markets outside the U.S. to export its surplus energy.
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