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Friday, September 17, 2010

GOM stocks priced as though moratorium isn't ending

http://www.gurufocus.com/news.php?id=107405
Posted by Devon Shire at 11:41 AM
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4 comments:

  1. swizz,

    Hey, i just initiated position in both petrobank and penn west today.......i am considering petrobakken as well, but am wondering your rationale behind investing in both petrobank AND petrobakken?? I see only the petrobakken dividend yield as an impetus......otherwise, why not just buy more of petrobank and leave petrobakken alone? Your thoughts would be welcomed. Thanks.

    cgiff

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  2. Don't disagree with that. Petrobank is likely the better option. As you suggested the Petrobakken dividend is attractive and likely why I hold some of it.

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  3. Swizz,

    Have you done/posted your reasoning behind both petrobakken and petrominerales being nicely undervalued as you state in your petrobank thesis? I'd just love to see how petrobank and its ownership of the two is only essentially amounting to the current market cap/share price -not even talking the heavy oil division and the thai technology! Thanks.

    ReplyDelete

  4. http://www.gurufocus.com/news.php?id=104988

    There is the math on the valuation of Petrobank. I encourage you to go to their website and look at their presentations. It is pretty easy to see the undervaluation.

    I've actually haven't written much about Petrobakken and Petrominerales, I will in the future. Again they both have presentations on their websites.

    Petrobakken has a 4.5% yield, growth in production ahead of it for years and both it and Petrominerales have as high of netbacks as you can find.

    ReplyDelete

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