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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (50235)12/3/2012 6:29:38 PM
From: E_K_S  Read Replies (1) of 78715
 
Re: Petrobakken (PBN/PBKEF)

This is a new one to me. I have added them to my OIL & Gas watch list. They still carry a lot of debt. My reason for buying more PWE and ERF is they are selling near their 52wk lows similar to PBN and many of these Canadian E&P's are paying large dividends (which may not be sustainable). One of the keys is how they are replacing their reserves. Going through their presentations, it was not too clear to me what that figure is.

So now, I do appreciate proven wells, proven reserves and a more mature E&P company if it can be bought at a value price. It seems that many of these small micro cap E&P's are hit and miss and even if one believes they own some very good land resources, it could be months/years before other's see the same value. Therefore, I am now looking at more mature E&P companies than building up my bucket of small E&P companies. PBM could be one of these. COP at the right price is one of my favorites too.

EKS
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