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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: ChanceIs	6/3/2007 5:45:13 PM
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Requesting Enterra Energy Trust (ENT) tutorial please. Would all who care to please write a paragraph about ENT. I recall many references to it on the board, but I wasn't as interested then as now. An old Seth Glickenhaus interview in Barrons (excerpt at bottom) alerted me. From a fundamental viewpoint, I would say that its recent rise just about corresponds to the Loonie increase. I see that 2006 was a poor year - haven't found out why yet. I see an acquisition in April - always a drag for a while afterwards. Nice yield - 12.6%. I see that they have undergone a symbol change since the Sept '05 Barrons piece. From a chart perspective, it has a long way to go relative to some peers - another 10% perhaps. Aside from its peers, it looks like a solid bottom and has barely gotten started on the upswing. Barrons (9/05) excerpt: Barrons: What else do you like? Glickenhaus: Enterra Energy Trust [EENC]. It is preposterously cheap. They've raised their dividend, and they pay a huge dividend. Their goal is to raise the dividend a penny a share every three months and they have been able to do it. They now pay 16 cents a month, or $1.92 a share a year. (Edit: Is now $0.06. I recall that CNE reduced their divi for more CapEx.) It is a fine company. They've got about 135,000 net acres of undeveloped land with over 120 identified drilling locations. Their success ratio in drilling in west central Alberta and northeast British Columbia is around 97% or very close to that. They just took over another company and that is one of the reasons why the stock has receded to 19 from 26. It has a 9% yield. Their current overall production is over 10,000 barrels of oil a day. They just bought a 50% working interest in an exploration well that flows at a rate of 10 million cubic feet a day with limited drawdown. Their proven reserves should last for 8 years and their natural gas assets have a reserve life of 8 to 10 years. It is a stock that will double in a year and a half as it has more or less in the last year and a half. ______________________________________________ BTW: Separately, the article below lists CNE among those having the most overpriced options. biz.yahoo.com

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