GREY:TBTEF - Post by User
Post by
blondeBondon Dec 11, 2013 10:07am
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Post# 21993913
from Peter Hodson at 5iResearch
from Peter Hodson at 5iResearchhis thoughts on TBE:
"Twin Butte is doing a bit better these days, with production up 18% in the last quarter to a record, and the dividend payout ratio at 60%. Its recent financing adds some financial flexibility as well. It is not a bad company. Earlier this year there were significant concerns on one of its focus areas, but it has managed this process well since then. The Black Shire acquisition adds 7,000 barrels a day, and significant cash flow. Asset sales have cleaned up TBE's overall asset structure. The cost structure is improving. TBE still has a high debt level, though, and there are risks. We like it better than we did earlier this year and would consider it OK for income now."