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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (60617)	6/21/2019 10:30:43 AM
From: Goose94	Read Replies (1) of 202461

Tourmaline Oil (TOU-T) top pick from Joef Schachter on BNN.ca Market Call Thirst-day June 20th @ 1200ET Tourmaline reported first quarter production of 293,434 boe/d (18 per cent liquids). Their new Gundy plant is ramping up and liquids volumes should rise to 72,500 barrels per day by the year-end from 55,010 barrels per day in March. Book value at March 31, 2019 was $28.07 per share. TOU has an excellent balance sheet with only $1.5 billion of debt against $7.6 billion of equity (19 per cent debt). Tourmaline now has a dividend of 12 cents per quarter (started in 2018 and raised three times from an original 8 cents). They have also initiated a five per cent normal-course issuer bid on June 17, 2019. We have a one-year stock price target $24.00 per share. BUY! Tourmaline has a market cap of $4.2 billion. In 2018 when WTI was over US$75 per barrel, TOU traded at a high of $25.70 per share. We see crude in 2020 reaching this level again.

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