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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (69117)	10/11/2019 6:08:14 PM
From: Goose94	Read Replies (1) of 202448

Tourmaline Oil (TOU-T) revisited top pick from Josef Schachter on BNN.ca Market Call Thirst-day Oct 10th @ 1200ET Tourmaline reported Q2/19 production of 280,547 boe/d (19 per cent liquids). Their new Gundy plant is now on stream and liquids volumes should rise to 72,500 b/d by year-end from 51,993 in Q2. Book value was $28.55 per share on June 30. Tourmaline has an excellent balance sheet with only $1.6 billion of debt against $7.8 billion of equity (20 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 initiated a 5 per cent Normal Course Issuer bid. We have a one-year stock price target $24 per share. In 2018 when WTI was over US$75, Tourmaline traded at a high of $25.70 per share. We see crude in the second half of 2020 reaching this level again. The stock now trades at its lowest level ever. We are fans of management and their historic track record for shareholders. The CEO owns 16.9 million shares, the largest CEO ownership of any company we cover.

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