Myth465 Posted May 17, 2011 Share Posted May 17, 2011 http://www.digitaljournal.com/pr/310225 Petrobank results. Link to comment Share on other sites More sharing options...
goldfinger Posted May 17, 2011 Share Posted May 17, 2011 A five year collaboration agreement has been signed with Pemex Exploracion y Produccion, a subsidiary entity of the Mexican state oil company Petroleos Mexicanos ("Pemex"), as the first step to licensing our THAI® technology in Mexico. While non-commercial, they are going ahead with THAI. Petrobakken has spent on drilling and will be ready for production growth by Q3 (at lower costs). This is taking shape. Link to comment Share on other sites More sharing options...
Alekbaylee Posted May 25, 2011 Share Posted May 25, 2011 PetroBakken aims to increase oil production from Bakken, Cardium pools If the Calgary energy producer reaches its 2011 goal and continues to grow in coming years — especially if the price of crude oil is in the US$100 per barrel range — the company will quickly earn enough cash to pay down debt, increase its dividend, rearrange its capital structure or speed up spending, Wright said. "What I will assure you all as shareholders is that we have no intention of continuing down a path that is going to affect the long-term financial fiscal health of the company, and we have full control over the rate of expenditure and the pace of our development and we will exercise that control," he told shareholders. "But we'll also ask you to bear with us as we let our program bear fruit and show you what we can do." http://ca.finance.yahoo.com/news/PetroBakken-aims-increase-oil-capress-1127490063.html;_ylt=A0wNc9VQQt1NFfYAogJyzJpG;_ylu=X3oDMTE4MWhqOHVlBHBvcwM1BHNlYwN5ZmlUb3BTdG9yaWVzBHNsawNwZXRyb2Jha2tlbmE-?x=0 Link to comment Share on other sites More sharing options...
Swizzled Posted May 26, 2011 Author Share Posted May 26, 2011 http://www.gurufocus.com/news/134193/value-ideas-contest-petrobank-shareholders-are-finally-going-to-see-what-that-800pound-gorilla-might-look-like I wrote this before the AGM. Helps me keep my head on straight and ignore the market in the short term. I'd also strongly encourage anyone interested in this company to listen to the Petrobakken and Petrobank AGM webcasts. CEO Wright never fails to impress me. Link to comment Share on other sites More sharing options...
Myth465 Posted May 27, 2011 Share Posted May 27, 2011 Thanks for the link. I switched into TAT. I like the Management both here and there. TAT has alot of issues right now, but I believe they will be sorted out sooner then Bakken's. Hopefully I can rotate some gains into here at some point. Will check out the Presentation. Link to comment Share on other sites More sharing options...
tyska Posted June 1, 2011 Share Posted June 1, 2011 I see that Chair of the board Mckinnon bought 30000 shares yesterday. Either insane or confident in outlook. Link to comment Share on other sites More sharing options...
bargainman Posted June 1, 2011 Share Posted June 1, 2011 Where did you see this information? I don't see anything under yahoo finance since it's a CDN stock. Link to comment Share on other sites More sharing options...
tyska Posted June 1, 2011 Share Posted June 1, 2011 Where did you see this information? I don't see anything under yahoo finance since it's a CDN stock. http://www.canadianinsider.com/coReport/allTransactions.php?ticker=pbn Out of the top ten listings showing now, but when I looked the other day Craig Lothian bought 25000 shrs at 16.45 on the 26th of May. Not that any of this is helping the share price today. >:( Link to comment Share on other sites More sharing options...
Alekbaylee Posted July 19, 2011 Share Posted July 19, 2011 Wow! What's pushing PBN/PBG/PMG up this morning? +15% for the first 2! Link to comment Share on other sites More sharing options...
Alekbaylee Posted July 19, 2011 Share Posted July 19, 2011 Finally some good news pushing up the price of the shares : http://www.bloomberg.com/news/2011-07-19/petrobank-to-reach-full-saskatchewan-oil-output-in-12-months-1-.html Link to comment Share on other sites More sharing options...
tyska Posted July 20, 2011 Share Posted July 20, 2011 Finally some good news pushing up the price of the shares : http://www.bloomberg.com/news/2011-07-19/petrobank-to-reach-full-saskatchewan-oil-output-in-12-months-1-.html That news was after the price had risen though. The cynic in me suspects there is a larger announcement coming to get that big of movement. But then I'm sure some one would look into that sort of activity. ;) Link to comment Share on other sites More sharing options...
Aberhound Posted July 20, 2011 Share Posted July 20, 2011 The Petrobank announcement shouldn't affect the Petrobakken price equally to Petrobank so other factors likely apply. I added 25% to my Petrobank position last week because of Kerrobert, but also because it looks to me that the new Petrobakken frac method is profitable, but has the temporary effect of increasing the decline rate as an increased proportion of output is from the first year high decline rate production. Too me I see Petrobakken as building moat because it takes great skill (and lots of cash) to produce oil in such deposits and I doubt other companies are developing similar expertise. Bakken has a lot of oil but it takes skill to get it out profitably. I wasn't so bold as the Canadian Value Investor who doubled his position recently and I disagree with the arguments of divestor.com who has been publishing the bear thesis. Petrobakken results come August 9th and they might have more problems because of the wet spring. Will they have to decrease the dividend? Will they continue to get debt financing on reasonable terms? PBG seems safer to me because Kerrobert cashflow might allow them to decrease the Petrobakken dividend which looks like its too high. I don't think this see-saw is over. Petrobakken is also an interesting bet because will it return to full value when Petrobank divests it? These Canadian oil deposits will look more attractive if there is war in Iran. Let's hope the following report isn't the reason for the rise. http://oilprice.com/Energy/Crude-Oil/Iran-Opens-Oil-Bourse-Harbinger-of-Trouble-for-New-York-and-London.html Link to comment Share on other sites More sharing options...
Guest VAL9000 Posted July 20, 2011 Share Posted July 20, 2011 Here's one theory on the price bump: http://www.edmontonjournal.com/business/Short+sellers+blamed+PetroBakken+stock+jump/5127189/story.html?cid=megadrop_story Link to comment Share on other sites More sharing options...
tyska Posted August 9, 2011 Share Posted August 9, 2011 Pretty good Q2 numbers considering weather, not that company numbers matter in this market. One does wonder were they are on hedges on production though, didn't see any mention in release. http://www.marketwire.com/press-release/petrobakken-announces-second-quarter-2011-results-reports-current-production-over-39000-tsx-pbn-1547269.htm "CALGARY, ALBERTA--(Marketwire - Aug. 8, 2011) - PetroBakken Energy Ltd. ("PetroBakken" or the "Company") (TSX:PBN), a 59% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX:PBG), is pleased to announce second quarter 2011 financial and operating results. PetroBakken second quarter 2011 financial and operating results were highlighted by funds flow from operations of $153.4 million ($0.82 per basic share and $0.76 per diluted share), a top decile operating netback of $56.63 per barrel of oil equivalent ("boe") and average production of 35,300 barrels of oil equivalent per day ("boepd") (84% light oil and NGLs). Improved operating netbacks during the second quarter were offset by lower production caused by severe weather conditions that extended spring break-up and restricted field operations. Since July, we have successfully restarted the majority of our field operations and production in early August is over 39,000 boepd (based on field estimates). We are currently implementing our second half drilling program with 17 drilling rigs operating; 8 in southeast Saskatchewan, 8 in the Cardium, and 1 in central Alberta. We anticipate drilling approximately 124 net wells in the remainder of 2011, and we forecast exit production rates for the year of between 46,000 and 49,000 boepd. " Link to comment Share on other sites More sharing options...
naboo Posted August 16, 2011 Share Posted August 16, 2011 Petrobank Q2: http://www.petrobank.com/wp-content/uploads/2011/08/PBG-2011-08-15-Q2Report.pdf What are they really doing now??? ??? ??? ??? Heary Oil and THAI are valued at 0 anyway. Link to comment Share on other sites More sharing options...
goldfinger Posted August 16, 2011 Share Posted August 16, 2011 Petrobank Q2: http://www.petrobank.com/wp-content/uploads/2011/08/PBG-2011-08-15-Q2Report.pdf What are they really doing now??? ??? ??? ??? Heary Oil and THAI are valued at 0 anyway. Look at P15 of the presentation the schedule is explained there http://www.petrobank.com/wp-content/uploads/2011/08/PBG-2011-07-julypres-web.pdf. Link to comment Share on other sites More sharing options...
Ross812 Posted September 13, 2011 Share Posted September 13, 2011 Petrobakken just approved a buy back of 9,361,755 common shares, representing approximately 5% of the total outstanding shares between 14 September 2011 to 13 September 2012. Apparently insiders (recent buying) and the company feel the stock price is too low. http://www.reuters.com/finance/stocks/PBKEF.PK/key-developments/article/1895011 Link to comment Share on other sites More sharing options...
turar Posted September 29, 2011 Share Posted September 29, 2011 This is now over 60% down since it was first posted. Were there any significant fundamental changes since then? Link to comment Share on other sites More sharing options...
Gopinath Posted September 29, 2011 Share Posted September 29, 2011 I don't see any. From the latest Quarterly report, the drilling/production is down because of weather issues. Other than that, production guidance for rest of the year seems to be inline. Link to comment Share on other sites More sharing options...
turar Posted September 29, 2011 Share Posted September 29, 2011 Last year they had weather issues too from what I remember. Link to comment Share on other sites More sharing options...
Alekbaylee Posted September 29, 2011 Share Posted September 29, 2011 I think this may be the cause : Among the companies whose shares are making notable moves in Wednesday's session are Paramount Resources Ltd. (POU.T), PetroBakken Energy Ltd. (PBN.T) and Petrobank Energy & Resources Ltd. (PBG.T). BMO downgraded PetroBakken (C$8.22, -C$1.12, -12%) to underperform, saying "with a dividend policy that is looking increasingly unsustainable, PetroBakken continues to increase debt to levels that may be difficult to recover from." It also said potential funding sources for the company may not be as readily available as in the past, given financial-market turmoil. PetroBakken is owned 59% by Petrobank Energy (C$8.16, -C$1.17, -13%), which is also down Wednesday. http://www.marketwatch.com/story/canada-hot-stocks-petrobakken-petrobank-2011-09-28 Link to comment Share on other sites More sharing options...
Myth465 Posted September 30, 2011 Share Posted September 30, 2011 What the hell happened here. Everything in the oil and gas space is getting killed but this is a bit excessive. About as bad as ATPG. Link to comment Share on other sites More sharing options...
StubbleJumper Posted September 30, 2011 Share Posted September 30, 2011 This is now over 60% down since it was first posted. Were there any significant fundamental changes since then? I wondered that too. Petrobank issued a presser yesterday that talked about what seemed to be a routine regulatory process, and then half way through, it switched subjects and indicated that activity at its THAI test site were to be suspended. What was slightly frustrating for me was that I could not understand whether the suspension of the work with THAI is indicative of a fundamental failure of the technology, or whether it was simply a declaration of victory for a successful test. My presumption is that the presser would have been a great deal more positive and probably more verbose if it were a declaration of victory for the THAI technology. So is THAI technology dead or what? They need to spell this stuff out clearly so dummies like me can figure it out. SJ Link to comment Share on other sites More sharing options...
tyska Posted September 30, 2011 Share Posted September 30, 2011 Call me paranoid, but after reading the BMO report on it I couldn't help but wonder who they had lined up that wanted the assets. Lowering the target price from 15 to 7 is pretty drastic. Link to comment Share on other sites More sharing options...
Ross812 Posted September 30, 2011 Share Posted September 30, 2011 Article from Calgary Herald: http://www.calgaryherald.com/business/Ewart+Markets+cast+wary+PetroBakken+stock/5481424/story.html Link to comment Share on other sites More sharing options...
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