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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (34103)	11/24/2017 9:49:28 PM
From: Goose94	Read Replies (2) of 203330

Parex Resources (PXT-T) top pick from Daniel Lloyd on BNN.ca Market Call Friday Nov 24th @ 1300ET We believe Parex has a best-in-class management team, with assets, profitability and balance sheet all at an excessively low valuation of 5x cash flow. Parex has exceed our production growth expectations for 2017 and by February they should issue their annual reserve update, showing very strong year over year reserve growth. 2018 production guidance of >42,000 bbls/d indicates growth of over 20 per cent over 2017, and at current oil prices the company should generate substantial free cash flow to add to their already impressive net cash position on their balance sheet. We don’t believe there should be an aversion to investing in a Colombian-focused oil company, and Parex is a rare combination of getting what we think is the best company in the space at the cheapest valuation.

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