Portfolio Adjustment
I am a long time owner of Kelt, many years. I had sold a large amount a while back because other names in O&G looked better, and rotated to them CPG, WCP etc. I stated as such on this BB, some old timers might remember. Long story short is that I have been rotating out of those names and buying more kelt. Primarily, I sold a bunch of Whitecap and Crescentpoint and added here big time!
Jan 17, 2022 $5.73 stock price, wti @ $77 by the way
$5.03 September 26,2022 and more recently
$5.42 Oct.18,2022
We must look forward, what does the future for kelt hold NOW, what does 2023 look like.
Nov.1, 2022 all the bad hedges are gone. Kelt is open Kimono to the "market" price of oil as we speak.
Kelt is producing more cash flow now then at the start of the year, and higer production +-8000boe/day. Still without any debt. This company is way to cheap for me to ignore, Recent transactions in the oil and gas space in Western Canada suggest Kelt has the type of assets O&G companies are looking to buy. I.E. Whitecap XTO deal. Kelt has upside exsposure to high oil and gas prices and the no debt to hedge downside protection of a market colapse/correction.
The Right Space, The Right Time, The Right Company. I have put my money where my mouth is. I have opinied, cheers Matthew