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Bullboard - Stock Discussion Forum Angle Energy Inc ANGZF

GREY:ANGZF - Post Discussion

Angle Energy Inc > 3 Reasons to Buy NGL
View:
Post by retiredcf on May 03, 2012 11:12am

3 Reasons to Buy NGL

1. Here's a reminder of CIBC's analysis from 21 Mar 12. At the time, the stock was $5.65 and their target was $9.50.

Q4/11 production averaged 12,932 Boe/d, slightly ahead of our 12,879 Boe/d estimate. CFPS was
.33 compared to our estimate of
.29. The variance was due to higher liquids pricing as well as lower operating costs, offset by higher-than-expected royalties.

? Angle has successfully tested two more wells, 14-35 and 13-35, which drilled off a second pad to the southeast of the 02/02-03-32-3W5 and 03- 03 pad wells. 14-35 tested at 485 Boe/d (94% oil), while 13-35 tested 420 Boe/d (93% oil). We view these high oil-weighted results to be top tier.

? Current field production is 16,400 Boe/d (18% oil/condensate, 25% NGLs and 57% gas), which is currently exceeding production guidance of 15,000- 16,000 Boe/d. The higher natural gas weighting is due to lower ethane recovery at the Harmattan gas plant, but is revenue neutral.

? We are very impressed by the company's ability to deliver on Cardium oil results in Harmattan. With continued outperformance, we would not be surprised to see the company revise guidance upward after spring break-up. However, at this time we believe management is being prudent.

2. Irwin Michael was on BNN this morning and recommended NGL as a top pick. Not surprising given his past recommendation.

WATCH 5.600 Mason Granger Used to own and would revisit on a really durable recovery in natural gas. Weighted about 50-50 natural gas liquids to natural gas. About 17,000 BOE's. Very well-run and excellent track record of exploration and development. 2012-03-29
WEAK BUY 6.000 Robert Lauzon Always chatter that Pen growth would buy them. Thinks they are an ok stock to own. Thinks they have increased risk because of liquidity. Thinks it will be a plodder here. 2012-03-23
TOP PICK 5.840 Irwin Michael, B.Com, MBA Could double in next 12 months. Company perceived to be very gassy so not getting multiples it should. Good management. Cheap. He is going to be patient. Trading slightly below net asset value. 2012-03-22

3. Recent Insider Buys - Not huge but always a good sign. GLTA

Apr 16/12 Apr 16/12 Mazuryk, Matthew Thomas Direct Ownership Common Shares 10 - Acquisition in the public market 1,000 $4.70
Apr 16/12 Apr 16/12 Mazuryk, Matthew Thomas Direct Ownership Common Shares 10 - Acquisition in the public market 1,000 $4.71
Apr 13/12 Apr 13/12 Christie-Burns, Heather Lynn Direct Ownership Common Shares 10 - Acquisition in the public market 1,500 $4.75
Apr 13/12 Apr 12/12 Cormack, George Graham Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $4.88
Mar 30/12 Mar 28/12 More, Elizabeth Barr Direct Ownership Common Shares 10 - Acquisition in the public market 500 $5.72
Mar 30/12 Mar 28/12 More, Elizabeth Barr Direct Ownership Common Shares 10 - Acquisition in the public market 1,000 $5.74
Feb 6/12 Feb 2/12 Roorda, Jacob Indirect Ownership Common Shares 15 - Acquisition under a prospectus 10,000 $6.35
Jan 4/12 Dec 31/11 Richardson, Glen Russell Indirect Ownership Common Shares 30 - Acquisition under a purchase/ownership plan 1,850 $7.98
Comment by retiredcf on May 10, 2012 11:28am
And here's CIBC's report released this morning. They maintain their Sector Outperform rating and $8.00 target. GLTA     Angle Energy Inc. Q1/12 In Line; Taking Up Production Estimates Given Solid Current Volumes ? Production of 15,066 Boe/d was in line with our 15,000 Boe/d estimate. Of note, oil and C5+ production increased 42% over the ...more  
Comment by blue_eagle on Jun 17, 2012 6:33pm
one less reason..............https://www.cbc.ca/news/business/story/2012/06/15/bc-shale-gas.html
Comment by bonjovi501 on Jun 22, 2012 12:42am
We are setting new 52 week lows daily and soon to be under $3.00 at this rate. Falling knife???
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