Guys, since you are familiar with Egypt due to SDX, I think you need to see TransGlobe Energy (TGL) because it has many catalysts ahead that can move its stock a lot, in my opinion.
As you know, TGL bought Cardium assets and returned to Canada two years ago, so it has now a well-diversified oil-weighted portfolio with exposure both to Brent and Edmonton light that has recovered and oil differentials in Canada are very tight now. TGL recently said in the latest CC that it wants to expand its acreage in Canada and looks for opportunistic deals. Check out Seeking Alpha website, the latest Conference Call is there. TGL can afford this expansion because it has a lot of cash and a very strong balance sheet, generated significant free cash flow in 2018 and expects to generate at least US$40 million free cash flow in 2019 because its 2019 CapEx is just US$34 million, see guidance.
Also, TGL's current Enterprise Value is less than 2 times its annual cash flow for 2019. Dirt cheap.
Also, TGL's production is already running above 2019 guidance, read the CC on Seeking Alpha.
Also, TGL has additional catalysts such as news about access to South Alamein block where its Boraq discovery well was a gusher at 1,140 bopd, development news about South Ghazalat block where it discovered another gusher at 3,800 bopd last year, news about an undrilled fault block north of the NWG 38A pool at the NW Gharib block (exploration well) and news about another exploration well at West Bakr block, where TGL targets the formation that is proven to be successful by a neighboring company, so the company says that it’s cautiously optimistic about its chances of having discovery there, as quoted from the latest CC below:
“With respect to the West Bakr exploration well, the target on that one, it’s a bit, a bit challenging to give you a whole prospect size on that. We do know that the wells to the south there’s a pool down there that is producing something in the order of 2,500 barrels a day from three wells. So we’re optimistic, we’re going to get a positive well if it extends that far north. Typically those wells would recover in the three to five hundred thousand barrels per well range, but until we test the structure it’s hard to say.”
Just my two cents. Just want to help you diversify your energy holdings with names with strong balance sheets. Do your dd to verify my sayings.