PetroBakken

[dan_s]

Seven analysts have submitted 4th quarter EPS estimates to First Call for PetroBakken. EPS estimates for the 4th quarter range from $0.10 to $0.30. My forecast is $0.28. 86% of PetroBakken's production is light oil. With oil prices now higher than what I used in my forecast, there is a chance PetroBakken results will blow away the current First Call EPS estimate of $0.18. More important is the fact that strong cash flow per share will allow it to maintain its dividend payout rate. At Friday's closing price, the current dividend yield is 9.3%. - Dan

CALGARY, ALBERTA--(Marketwire - Nov. 15, 2011) - PetroBakken Energy Ltd. ("PetroBakken") (TSX:PBN.TO - News) is pleased to announce that our cash dividend for the month of November will be paid on December 15, 2011 to all PetroBakken shareholders of record on November 30, 2011. The November dividend will be $0.08 per PetroBakken share. The ex-dividend date is November 28, 2011.

PetroBakken (PBN.TO): ~59% held by PetroBank: PetroBank’s primary source of revenues is the monthly dividends it receives from PBN.
• Reported 3rd quarter production of 39,075 boepd, up 10.7% from the 2nd quarter. Production was back up to over 47,500 boepd by early November.
• Third quarter production was significantly impacted by shut-in wells and wet weather which delayed field operations.
• Improved weather conditions have allowed PetroBakken to accelerate their drilling program. They now have 11 operated drilling rigs and expect to bring approximately 52 net wells on stream by year-end.
• Forecast exit production rate is now 49,000 boepd (~86% light oil)
• A detailed company profile and forecast model for PetroBakken is available on our website under the Sweet 16 tab.

[danross70]

H&%$, if it meets your forecast, it will blow away the First Call expected earnings! Thanks to you, I started buying this one around $6.40/share. Way more than paid for my subscription! It is tough to find growth stocks paying substantial dividends!

[dan_s]

All of our Canadian based companies have been hammered this year despite the fact they are all heavily weighted to oil and they have generated fairly good results for the first three quarters. U.S. investors have pulled a lot of money out of the TSX and investors are not keen these days on foreign operations.

All of PetroBakken's production comes from Canada, primarily the Bakken and Cardium. They should report very strong production growth for Q4.