Investment Q&A

Q: Is the drop of vet only a manifestation of lower oil price ?
Thanks.
gaston.

Q: From the Globe and Mail: "Trident Exploration Corp. said it ceased operations effective April 30, leaving behind a $329-million bill to clean up 4,700 wells it says are being transferred to the Alberta Energy Regulator (AER)."

There is a problem in Canada with abandoned oil and gas wells and unfunded clean up costs from defunct oil and gas producers. From the press this seems to be a big future liability to the Province and existing companies as well. This would create a massive source of revenue for companies tasked with the clean up job I imagine. Is there an investment thesis here?

Q: I was stopped out on ENB a while ago but now would like to reenter the sector. Which pipeline company would you buy today for some growth as well as the steady dividend ?
Thanks
Sharon

Q: I have owned this for some time and at a loss is there any point in holding on or just move on out of the oil sector?

Thks
M

Q: What do you think about ARX after Q1 results?

Q: Any insight as to why Encana trades in such high volumes?

Q: Can you please give your opinion on why this stock has performed so poorl lately and is it worth a 5% position in a dividend income account style over say, a five year hold..? many thanks

Q: After the announcement of Alberta production curbs I increased my holdings from 2.5% to 4,5% and because of its outperformance I am now over 5% and am going to reduce my holdings. I am thinking of going down to 4% as I see improving metrics with the company. It is my only oil and gas producer in a balanced portfolio which is less than 20% of total holdings but managed on a standalone basis. What are your thoughts on a 4% holding. Thanks

Q: Is it a good time to enter the Canadian energy sector? If so, which of these would you choose? Or something else? Charge me two credits if necessary.
Thanks,

Q: I have not ventured back in to the gas/oil sector yet but thinking of doing so. Do you prefer services or producers at this point? For producers, do you prefer gas or oil or a mix? Could you give me a couple of your favourite names that you suggest I consider for getting back into the sector? I have a long time frame, medium tolerance for risk and like growth. Thank you for all your help.

Q: Your thoughts on both? Would you buy either of these names today?

Q: Hello
Could you comment on VLO and CU earnings?
Thank you.
Stephane

Q: Have owned these in the past and have made a profit. With all the hype in LNG and a possible rebound in commodities do you see any upside investment in these stocks. Benji Gallagher sees a big jump for BDI but HNL at least pays you to wait. Would like an analysis of both and which one would you prefer for an investment today.
Thanks Gary

Q: Peter; VET’s earnings looked really good- could you comment on the conference call ? Thanks. Rod

Q: Good morning 5i team
The 2018 audited statements say VET recorded a $128 million "Gain on business combinations", which were 1/3 of the co's. net earning for the year. $68 m gain came from assets acquired in Wyoming, and $59 m from acquiring Shell E&P Ireland Ltd. Notes to the statements say the gains came from ... changes in values from when the purchase agreements were entered into, compared with when the transactions closed, in the following two areas:
- recognition of additional reserve value (in Wyoming), and
- increases in the fair value of capital assets (in Ireland)
These gains do not impact 2018 operating cash flow numbers, but to someone without industry experience, they raise questions. That said, please advise,
- How unusual in 5i's experience are these types of gains in energy company acquisition transactions?
- Does this raise any red flags in considering an investment in VET?
Thank you.
Edward

Q: I have noticed that 5i has made positive comments regarding GXE as of late. Does the heavy crude differential play a role? Look forward to your breakdown on the company. Cheers.

Q: What's the outlook for this company in reducing debt and increasing cash flow? Tks

Q: when the chevron deal was announced i bought anadarko stock and anadarko options the august 65s, so now with oxys bid i am sitting on huge gains but i am reluctant to sell because i think this will be a huge bidding war and with chevrons balance sheet they are unlikely to lose,
. do you agree, should i keep holding or take my money and run. dave

Q: Hello Peter, who will you consider other possible potential candidates.
Thanks

Q: Looking to start a position in a canadian energy name. Was looking to do it a few months back but wasn't certain on which one to buy. Would you rank the names I have sent with your thoughts on each.
Thanks Gary