Whitecap Resources Inc T.WCP

A dog is a dog regardless of its name CPG - VEREN

[MyHoneyPot]

I look at CPG and with almost 4 billion in debt and comparable production to WCP

CPG market cap 7.6 Billion almost 4 Billion debt               200,000 boe
WCP market cap 6.5 Billion almost 1.5 Billion debt           175,000 boe

CPG 11.6 billion -  WCP 8 billion enterprise value

CPG has questionable management and it will take them a long time with Eric Pounding on share buybacks to meet its debt target. 

I think these is a good reason to buy WCP, and the cost of carrying all that debt. Also CPG is about 45% more expensive in terms of enterprise value. 

IMHO

[JamesT]

It is my understanding that CPG has a better ratio of oil to gas than WCP. Also they have more light oil compared to heavy oil that trades at a discount (although gap is narrowing)

[Onemoreboom]

Red in a sea of green :(

[traderbri]

 It's clear to see that CPG is being pumped by "you know who" but when they decide to kick it under the bus it will go into free fall. Although it does have real good support between $10 and $10.50 Cheers

[Moemoney42]

LOL.. CPG has been drilling some of the best wells lately on their Montenay and Duvernay lands..  WCP is just getting a bit of stop loss raiding IMO.. the debt levels of WCP are good and getting better.. once they get that debt below 1B the picture is going to look VERY good if not great.. IMO.. Buy the weakness would be my thoughts.. ;-)

[Moemoney42]

The chart actually looks good IMO.. only once crossed the 30 day MA and touched it once after that since mid Feb... aside from that the trend seems to be intact..IMO.

[MyHoneyPot]

There is really nothing wrong with WCP debt.  You really don't want people to send their capex so that balance sheet looks perfect every quarter, that is really a case of the tail wagging the dog.  They have a capex play of between 900 million and 1.1 billion. So according to budget Q1 was 430 million or about 43% of the capex mid point.  So if on average they spend 200

[Moemoney42]

"Maybe WCP needs to follow CPG and put "truth" into your new name because no one believes the management of CPG anymore." Well the market seems to think otherwise and so do I.. the debt CPG has, will be paid off in good time too.. over 200,000 BOE/day at $85+ WTI will do the trick.. not worried at all.. ;-)

[tollycraft]

Can't argue with that.  I'm just getting tired of it looking good, then going backwards.  Don't get me wrong, I haven't seen this stock (or any other stock) take a leap on good quarter financials but after having said that, the finacials were not great.  I still think it's a good investment, but not sure how long I can wait for a break out. I was told by someone