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canadian mkt confidence
Posted: Sun Mar 25, 2012 12:31 pm
by k1f
An interesting (small) survey of Canadian investor confidence indicating widespread mistrust of the mkts.
Canadian valuations have been especially meager, IMO, though a lot of money is staying out of the mkts
here too, judging by volumes. Since a lot of the juiciest E&Ps are Canadian, this seemed significant:
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http://www.investorvillage.com/smbd.asp ... d=11546670
Re: canadian mkt confidence
Posted: Sat Mar 31, 2012 5:15 pm
by dan_s
All of our Canadian based companies (GTE, TGA, PetroBank and Petrominerales) appear to be trading at deep discounts to their break-up values. They are all heavily weighted to oil. TGA and PetroBank are both up more than 50% year-to-date and still well below my estimated Fair Value.
GTE just announced a significant well in Argentina. GTE is debt free with strong growth locked in for many years.
PetroBank was grossly oversold at year-end. Through its ownership in PetroBakken, it should report solid production growth this year.
TGA is going to report very strong production growth this year. They should top 20,000 bopd by year-end. I think TGA is working on another acquisition that should jack up production even more.
Vero Energy (VRO.TO) looks very good to me. It is now debt free and focused on increasing oil production from the Cardium play in Alberta. EPG members should read my profile on the company under the Watch List Tab.