Parallel Energy Trust T.PLT.DB

still looking good

[halfpennyrich]

Someone whants a lot of cheap Parallel Energy Trust, or they whant to profit on fear by shorting this stock. But it still looks good to me.

Company Profile Parallel was established through an initial public offering in 2011 as a Canadian trust with foreign-based assets. The company is led by President & CEO Richard Alexander and Richard Miller as CFO. Operations are focused in Carson, Hutchison, Moore, Potter, Gray and Roberts Counties in Texas and a non-operated position is also held in Garfield County in Oklahoma. Business Mix (Based on revenues unless otherwise noted) 2014E Production Mix: 36% Gas, 64% Oil and Liquids Comparable Companies (TSX unless otherwise noted) AET.UN, EGL.UN Recent Update Text as of 16MAR15 . Parallel released fourth quarter results and reserves report. . Fourth quarter production and cash flow in line with estimates. Fourth quarter production averaged 7,110 boe/d, compared to our estimate of 7,109 boe/d and consensus estimate of 7,226 boe/d, respectively. Cash flow of $0.16/unit was also in line with our estimate of $0.15/unit and consensus of $0.17/unit. . 2015 capital budget maintained. The trust has an unchanged 2015 budget of US$3.1M, which includes US$2.2M to complete well cleanouts and US$0.9M for maintenance and equipment. . Drilling program postponed indefinitely. The company had previously announced that in light of the current macro environment, the 2015 drilling program has been postponed indefinitely. . Production guidance and monthly distribution maintained. 2015E production guidance of 6,800 boe/d was reaffirmed despite weather-related production challenges in the first two months of 2015. Parallel also announced no change to the company's March distribution of $0.01/unit. . We maintain our SU rating and maintain our one-year target price of $0.50/unit. Patrick Bryden, CFA (Scotia Capital Inc. - Canada) [e-mail] / [phone]