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Bobwins
Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa
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 Posted: Wed Oct 23, 2013 5:19 am Post subject: Palliser, PXL.v C$.57 |
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Palliser is a Lloydminster heavy oil producer. Q2 produced 2700boepd and .10 cashflow so extremely cheap at less than 2X fwd price to cashflow.
The wells are cheap and shallow, costing around $700K. Palliser has several years of inventory. They have been switching to rail shipments to the Gulf Coast refineries to get better pricing. The rail adds $6/boe after shipping costs to the net received. To further ensure stable pricing, PXL has hedged over 50% of production at current high prices.
http://www.stockhouse.com/news.....ons-update
http://www.stockhouse.com/news.....cord-funds
the one negative is the low trading volume. I bought a small position and will likely not increase it too much due to the low liquidity. Also in the latest PR, company informs us that Q3 will suffer due to the facilty improvement so that might provide a good entry point when Q3 is released. |
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langenburg
Joined: 12 Jan 2007
Posts: 25
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| Posted: Mon Dec 09, 2013 5:00 pm Post subject: Ouch |
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| This one has really fallen off hard. Is the balance sheet not in good order ?? |
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langenburg
Joined: 12 Jan 2007
Posts: 25
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| Posted: Mon Dec 09, 2013 5:00 pm Post subject: Ouch |
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| This one has really fallen off hard. Is the balance sheet not in good order ?? |
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langenburg
Joined: 12 Jan 2007
Posts: 25
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| Posted: Mon Dec 09, 2013 5:00 pm Post subject: Ouch |
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| This one has really fallen off hard. Is the balance sheet not in good order ?? |
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Bobwins
Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa
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| Posted: Sun Dec 15, 2013 2:24 am Post subject: Palliser should rally in 2014 |
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not sure why this has fallen so hard. Cashflow did fall below last year's total with.06 vs .09 last year. Expenses were higher, although some of that is expected since Palliser is sending more oil via rail to get higher prices from Gulf Coast refiners versus accepting lower local prices.
Annualize .06 and you get .24 cashflow vs the current price of .36, ridiculously cheap. I sold out of Palliser a few weeks ago when it got weak but am considering re entering at these cheap levels.
Rail capacity has actually increased to 75% of total production capacity so expect higher expenses but higher revs and netbacks as well. |
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langenburg
Joined: 12 Jan 2007
Posts: 25
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| Posted: Wed Feb 19, 2014 10:27 am Post subject: |
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| Bill Brickburn on BNN sais he still likes the company even with the bumpy stock price. Might need some recapitalization in the future |
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