Tenaz Energy Corp ATUUF

Dutch Gas Back at 40/mhz

[BERationale]

I wonder when the market will wake up and understand this is not an oil story... its a european has story which will make up 90% of their production! Europe gas up 3% today and back over 40/mhz. Oil down 3% but who cares? TNZ is getting lumped into the broader energy market.
I continue to expect the final purchase price for these assets will be next to nothing if gas continues to trade up. Another 1 euro deal for Tony and team and this time for 11k boe/d would solidify TNZ as the GOAT.
From research capital "assuming a EUR10 per MWh shift in TTF pricing holds, that would be about C$4.40 more per mcf, which after tax and hedges would be an additional C$10mm by year end and C$21mm by deal close (just for the newly acquired assets), reducing the debt required to close the deal by nearly half."
GLTA

[BERationale]

TTF at €43 today!! Nice gap up from $8-$9 was a catch up trade but now with TTF up 20% in the last month, the stock should be trading at $11+ / share on a CF basis and $15+ / share on a NAV basis. The risk / reward on this name continues to be the most attractive of any E&P stock out there (domestic or international). Also hearing another acquisition coming in the next few weeks - called NAM

[Overertune]

Can TNZ make another acquisition with the money they don't have yet?

[mongoose04]

They can with the money, credit, (equity?) they do have

[BERationale]

Tenaz estimates they will require C$45mm at closing for what is left on the purchase price of NAM (when accoutning for NAM cash flow from announcement to close). I think this number will definetly be less than C$45mm given where TTF has been trading (€32 at announcement vs €43 today).  But lets use C$45mm to be conservative - that leaves $65mm of unenbumbered liquidity available from their