PetroBakken - Dividends

[dan_s]

I have updated my PetroBakken Energy, Ltd. (PBN.TO or PBKEF) Net Income & Cash Flow Forecast model and posted it under the Watch List Tab.

Unless there is a significant drop in oil prices, PetroBakken's dividend of $0.96Cdn per year is rock solid.

We will be sending out an updated profile on the company this month. Despite the name of the company, their upside is in the Cardium horizontal play in Alberta. At today's oil prices the economics are very strong in the Cardium. An update from their press release below.
"In Alberta, we continue to grow production in the Cardium business unit, which averaged 19,055 boepd during the fourth quarter of 2012, an increase of 29% over the third quarter of 2012. During the fourth quarter, we drilled 33 wells and brought 41 wells on production, bringing our yearly total to 84 wells drilled at a 100% success rate. 2P reserves in the Cardium business unit increased 30% year over year, from 72.2 MMboe in 2011 to 93.7 MMboe in 2012, replacing production by 461%. The Cardium business unit will continue to be a key source of growth for PetroBakken, with a development drilling inventory of over 580 net locations."

[prince_jake_33]

Dan Thanks for keeping an eye on PetroBakkken.

[dan_s]

PetroBakken is one of the stocks in our High Yield Portfolio (and I own it), so we keep a very close eye on it. IMO the share price is way under Fair Value. They are going to report very strong Q1 results.

We are now working on GST. Their pfd stock looks like a great place to park money for high yield, plus their dividends are tax free. Improving natural gas prices are very bullish for GST.

One of my top interns at Wharton just sent me an updated profile on TGA. I hope to review it tonight.

[dan_s]

PBN.TO is up big today high volume, a very bullish sign.