Oil Stocks: Peter Brieger GlobeInvest Capital Management
Peter Brieger, chairman and chief investment officer, GlobeInvest Capital Management on RoBTV October 16, 2006
PROGRESS ENERGY (NYSE:PGN TSE:PGX.UN): Progress’ distribution or cash flow will not cover if oil in worst case scenario is $55 and natural gas at $5 next year..in terms of assessing risk, Progress is high risk, intend to sell it on any strength..$16+
UTS ENERGY (TSE:UTS): long-term answer..the two themes are this..America needs safe energy in terms of security and supply at reasonable prices..competition for future supply heating up..I understand we are having warm winter and price will be weaker but I am talking about 3-4 years..UTS is one of the prime players..major position in several leases..I believe someone will buy them out at $6-8..buyout play..management first-class
TALISMAN ENERGY (NYSE:TLM TSE:TLM): it does sell at roughly 10% to closest peer CNQ (NYSE:CNQ TSE:CNQ)..its assets in Far East ultimately will end up with one of Chinese oil companies or Indian oil companies..selling themselves bit by bit..do we like it yes along with couple of others in the space..keep the faith
CATHEDRAL ENERGY TRUST (TSE:CET.UN): when things settle down, other words CapEx stop going down..then look at drilling
PAST PICK + TOP PICK CANADIAN NATURAL RESOURCES (NYSE:CNQ TSE:CNQ): upside $80-90 in 2-3 years..take longer-term look..even using worst case basis $55..price to cash flow ratio below 5..not bad for company with exposure to oil sands and natural gas..tremendous value here..not concerned about long-term natural gas fundamentals..
CANADIAN OIL SANDS (TSE:COS.UN): this is wrong time to sell it.. disappointing short term, but 12-24 month will be rewarded..relative to UTS no cash flow..if you want to get into oil sands, be one of our top picks..in short term, 6-12 months, another $3 reasonable
ENCANA (NYSE:ECA TSE:ECA): I’m not 100% sure why the sold off land..surprised to see them give that up..ultimately McKenzie pipeline should get built..
PROGRESS ENERGY (NYSE:PGN TSE:PGX.UN): Progress’ distribution or cash flow will not cover if oil in worst case scenario is $55 and natural gas at $5 next year..in terms of assessing risk, Progress is high risk, intend to sell it on any strength..$16+
UTS ENERGY (TSE:UTS): long-term answer..the two themes are this..America needs safe energy in terms of security and supply at reasonable prices..competition for future supply heating up..I understand we are having warm winter and price will be weaker but I am talking about 3-4 years..UTS is one of the prime players..major position in several leases..I believe someone will buy them out at $6-8..buyout play..management first-class
TALISMAN ENERGY (NYSE:TLM TSE:TLM): it does sell at roughly 10% to closest peer CNQ (NYSE:CNQ TSE:CNQ)..its assets in Far East ultimately will end up with one of Chinese oil companies or Indian oil companies..selling themselves bit by bit..do we like it yes along with couple of others in the space..keep the faith
CATHEDRAL ENERGY TRUST (TSE:CET.UN): when things settle down, other words CapEx stop going down..then look at drilling
PAST PICK + TOP PICK CANADIAN NATURAL RESOURCES (NYSE:CNQ TSE:CNQ): upside $80-90 in 2-3 years..take longer-term look..even using worst case basis $55..price to cash flow ratio below 5..not bad for company with exposure to oil sands and natural gas..tremendous value here..not concerned about long-term natural gas fundamentals..
CANADIAN OIL SANDS (TSE:COS.UN): this is wrong time to sell it.. disappointing short term, but 12-24 month will be rewarded..relative to UTS no cash flow..if you want to get into oil sands, be one of our top picks..in short term, 6-12 months, another $3 reasonable
ENCANA (NYSE:ECA TSE:ECA): I’m not 100% sure why the sold off land..surprised to see them give that up..ultimately McKenzie pipeline should get built..
posted by Spelunca at 12:06 AM
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