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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (155)11/7/2012 4:39:23 PM
From: Goose94Read Replies (2) of 202684
 
Keith Schaefer, editor of the Oil and Gas Investments Bulletin to hear what has his interest in the junior oil
patch. He says investors should pay attention to last week’s announcement by Renegade that they’re changing focus. There’s a lesson there for the retail crowd.

“Last week Renegade Petroleum (RPL-V) announced they were buying oil production, will start paying a dividend and become a mostly income-oriented company. I think the market missed the significance
of the Renegade Petroleum transaction last week. This is a heavily oil weighted junior that attracted a lot of research.
They threw up the white flag on growth last week, and transformed into an income vehicle—and saved their shareholders in the process. Even though they had to dilute—and didn’t improve per share production or cash flow much at all—they did the right thing here.

History is telling us that very few management teams in the junior oil patch have the fiscal discipline to make resource plays work for shareholders, and Renegade is only the latest example.

They’re developing a Viking play in western Canada, which is small cost wells for small production wells. Their Souris play in Saskatchewan is similar. Debt levels are OK.


So Renegade CEO Mike Erickson did the right thing. He changed focus before it was too late, transformed into an income vehicle and saved his shareholders a lot of pain.”
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