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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (176203)	1/30/2013 7:22:49 AM
From: quehubo	2 Recommendations Read Replies (1) \| Respond to of 206085

The tide has turned, all the easy money needs to find some returns. Being safe in bonds is only a small return and safe for so long. Owning O&G reserves in the non muslim countries is a good investment.

To: Bearcatbob who wrote (176203)	1/30/2013 7:39:42 AM
From: Bocor	1 Recommendation Respond to of 206085

Everyone loves musical chairs until the music stops~

To: Bearcatbob who wrote (176203)	2/24/2013 10:06:27 AM
From: Dennis Roth	2 Recommendations Read Replies (1) \| Respond to of 206085

Forest Oil (FST) Lower TP to $5 and Maintain Underperform. Following the 4Q12 update, we lower our ‘PD-Plus’ NAV-based target price to $5 (from $6) and maintain our Underperform rating. FST improved its liquidity with recent asset sales, but still needs to shore up its balance sheet (net debt-to-capital exceeding 100%) before it can accelerate development of core assets to drive NAV accretion. Based on new guidance, we revise our 2013/14 EPS estimates -22%/+12% and we introduce our 2015 EPS estimate of $0.66. Spent Itself Into a Corner. FST’s stretched balance sheet is forcing its hand to monetize assets in order to pay down debt ahead of accelerating the development of core assets. Despite FST’s stated plans to spend near cash flow and with nothing drawn on its $900MM revolver, we project that FST will face a ~$130MM funding gap in 2013 (futures strip) and we expect liquidity to meaningfully shrink at the next borrowing base redetermination, driven by the ~40% decline in pro forma proved reserves. While FST noted a number of potential monetizations on the horizon (Permian, Eagle Ford, Texas Panhandle, Cotton Valley/Haynesville), the initial capital will be directed towards paying down a portion of its ~$1.5B in outstanding debt. Oil Growth to Accelerate in 2H13. FST guided to a ~30% yr/yr increase in pro forma oil production, driven primarily by the Texas Panhandle and the Eagle Ford. Production is expected to grow in 2H13, as an increase in oil volumes is anticipated to offset the declines in natural gas. Oil production is expected to average 7.5MBbl/d vs. 6.7 MBbl/d in 4Q12 (pro forma divestitures). 7 pages, 2 exhibits, download link at the bottom of sendspace.com