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Strategies & Market Trends : Value Investing

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To: Bocor who wrote (47005)	3/13/2012 12:35:17 PM
From: Paul Senior	Read Replies (1) of 78669

ERF. No, sorry, but I don't have much knowledge about ERF, and I don't follow it that closely. I do hold shares though. I've bought the stock for two reasons: its diversified oil properties - Bakken, Cardium, Duvernay - and because of its dividend. Now that very high current yield just seems to be screaming that the market doesn't believe that the dividend is sustainable. And with producers still shutting down nat gas wells, I believe the likelihood of a dividend cut has continued to increase. Which might drop the stock even further. As I consider ERF oil production for 2012, there seem to me to be more attractive stocks on a production/enterprise value - although they don't pay a dividend. For me, it seems risky to hold this stock now: I have been considering reducing my position. Jmo and I've been wrong many, many times.

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