Overlooked oil-weighted producers: ATU and TGL Aside from ATU, another oil-weighted producer with a pristine balance sheet, dividend and production growth with a pristine balance sheet is TransGlobe Energy (TGL) or TGA in the US. The recent AIM listing in London boosts awareness and the company expects that it will attract European investors this year.
TGL gives a semi-annual dividend of 3.5 cents in USD, or 7 cents per year in USD, or 4% yield, and its current Enterprise Value of about US$120 million is less than 2 times its annual cash flow.
Also TGL has production growth thanks to its new discoveries in Egypt (Ghazalat and El Alamein), low cost wells and no debt problems because its cash exceeds its debt, so its net debt is negative.
Also TGL will generate free cash flow in 2019 as well because its 2019 CapEx is just US$34 million, which is much less than its projected annual cash flow.
At less than 2 times its annual cash flow, TGL has absurdly cheap valuation according to its presentation below:
https://www.trans-globe.com/upload/announcement/132/06/2019-01-30-january-corporate-presentation-final3.pdf
Just my two cents.