Working for a Living.....
I am still in deep in POU, and it is paying off in spades, i had a 13.50 price target to sell, but i think i am going to have to raise that because i sold half my position over 13.50 on the options market. The good thing is i am cashed up.
NVA, is currently highly speculative, the pipestone north wells are all test wells different zones, lengths, completion techniques, it is really an experimental pad so associated with a lot of risk. NVA just has too much debt for POU and they want to hold their shares tightly.
Condensate averaged 58 U.S. in the first quater with an exchange rate of .79 that means condensate traded at 73.50 in Q1, the makings of a great quater. If you ignore the hedging losses.
I have doubled by investment in Oil and Gas, and have a large weighting in ARC, which i believe will be 14 dollars very soon, and Enerplus that will double as well.
I had bought a large position in NVA and blew it out at 2.50 when i found out the pipestone north wells are high risk, not real development wells.
Those are my picks, ARC, POU and ERF.
I am not sure how POU will do this quater, they sold off some production early in the quater and i am not sure how much new production came on to replace it. Q1 i think is a flat quater for POU but Q2 and Q3 will be much better.
I think ARC is going to have a messy Q1 but Q2 could be amazing especially if they sell off the gold creek gas plant, they could end up with 1.5 billion in debt by mid year.
ERF, has amazing economics, it will cash flow 600 million in FCF this year. The stock is an easy double.
Yes my attention has been spread arround these days, but i do think POU will really be a 4th quater story this year. However it performance to date is nothing short of stellar. I expect waterous to settle soon and add another dollar a share with the settlement.
IMHO