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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (52301)	1/25/2019 5:57:58 PM
From: Goose94	Read Replies (2) of 203763

Bellatrix Exploration (BXE-T) top pick from Josef Schachter on BNN.ca Market Call Thirst-day Jan 24th @ 1200ET Bellatrix announced that they drilled five gross wells in Q4/18, made some small acquisitions and that field production had risen to 35,100 barrels of oil equivalent per day (73 per cent natural gas). This was up from 33,530 boe/d in Q3/18 and is above our forecast of 34,420 boe/d for Q4/18. The stock is very cheap, trading at less than one times 2018 cash flow per share (CFPS). The company is planning a conservative budget for 2019, with capital expenditure of $40 to $50 million and a targeted production range of 34,000 to 36,000 boe/d. We’re more optimistic and see them spending $52 million in 2019 (the difference spent in the second half that year) and generating CFPS of $0.64. We continue to add to this position on weakness.

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