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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (144614)	2/24/2023 2:55:57 PM
From: Goose94	Read Replies (1) of 201971

Tamarack Valley Energy (TVE-T) revisited 4.0 top pick from Eric Nuttall on BNN.ca Market Call Friday February 24th @ 1200ET Tamarack continues to be punished for its active mergers and acquisitions streak in 2022 which created an overhang on the share price and annoyed existing shareholders by deferring their payday in the form of meaningful dividends and buybacks by several quarters. While much of 2023 will be used to pay down its debt, investors still get paid a four per cent dividend while maintaining significant leverage to a rising oil price. We see the company paying an annualized 13 per cent dividend (or buyback) by the first quarter of 2024 and a 32 per cent dividend by the fourth quarter of 2024 at US$100WTI. Trading at 2.5x/1.9 EV/CF at $80/$100 in 2024, we see fair value closer to $9.69/$13.00, offering over 100 per cent potential upside.

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