Manitok Energy Inc MKRYF

RE:RE:National Bank

[jerrybe]

Yes, the downgrades that follow such disappointing news were to be expected...I must say, I think the firm did a terrible job at managing expectations: Adverts promoting high exit rates, interviews, etc. And yet, they must have known already about their major issue with their midstream partners.

A big blow to management's credibility, following the departure of many seniors earlier this year...it will take a while for this one to recover...

However, in all this mess, the Entice news was completely discarded....and it shouldn't!! The second play we have all been waiting for is here. The well results are excellent (general consensus it seems) and hence this represents quite the buying opportunity for those willing to cope with volatility. Yes, the next two quarters are going to be well below expectations but 2015 should be quite the year if things get under control at Stolberg and production at Entice gets going in earnest.

The stock is now more than 30% cheaper than it was a few days ago...time to dip in?