Manitok Energy Inc MKRYF

RE:RE:RE:RE:RE:RE:RE:RE:Q2?

[jerrybe]

I bought last summer (2014)...so despite some averaging down, I am down more than 75% on this one. It hurts...I guess it will rebound but on the face of such a staggering loss, I have a hard time (1) averaging down further and (2) selling.

Mass is not the king of communication that's for sure. I think he views Manitok as HIS firm and minority (retail) shareholders as some sort of a nuisance. It is unfortunate because it SEEMS that he has made a lot of good moves in the downturn: (1) good hedges going in; (2) cutting back on capex; (3) renegotiating with PSK; (4) big acquisition at bargain prices; (5) continued access to capital markets.

I go back over and over to SGY who are really so much better when it comes to disclosure. You need disclosure, especially in this downturn. Some will claim trade secrets, but after the fiasco of the "midstream" solution last year, Mass should have worked hard to rebuild the trust. Instead, the disclosure has come to a quasi-halt except for the minimum (legally required) disclosure.

Now, I believe the guy is up to good things. But of course, with oil in the 40s and a market cap that is miniscule for a listed company, and being on the Venture Exchange, you get what you get: Lots of potential...but also lots of doubt that this potential will be materialized. Who dares wins...

I prefer adding to my favorites in the sector: SGY, PPY, LNREF, ECA. Those also offer great value and seem less risky than Manitok. Let's see what Q2 brings. Hopefully there will be a decent update on the business even if we know they stopped drilling a while back. Things should be pretty calm.

I do get annoyed by the trading action we see on this stock. Clearly there has been manipulation in the last three trading days ahead of the numbers. But putting aside this issue, Manitok is shaping up to look like a decent long-term partner to PSK's land. It could definitely be a multi-bagger. As always when someone makes this claim (me in this case), you would love to see insiders buying hand over fist at these bargain-level prices. They know more (in this case much more) than us what is going on. If things were really lining up nicely, I would like Mass to be adding massively (!) to his position in the coming days after the press release.

GLTA! May the report be good!