| DON'T BUY | 6.000 | Michael Simpson, CFA | Recently decided to convert to a corporation but haven't said what their dividend policy will be. Balance sheet was leveraged. Received an equity infusion from a US firm. Like some of their assets, but until they make crystal clear what their dividend policy is, he is staying away from it. | 2008-01-22 | |
| BUY | 6.870 | Patrick Kim | Distributions are going to be cut to zero as they prematurely covert into a corporation. At under $7 he believes there is significant upside. Management has a good track record to grow. | 2007-11-02 | |
| HOLD | 6.490 | Peter Brieger | Abu Dhabi’s acquisition of Prime West (PWI.UN-T) put a positive spin on this type of trust. | 2007-09-25 | |
| SELL | 9.290 | Alan Blake | Sold most of their position. Will merge with it's corporate counterpart. Not much success with their drill bit. | 2007-06-14 | |
| HOLD | 8.400 | Glenn MacNeill, P.Eng. | Compared to other income trusts’ metrics, not considered cheap. 55% payout ratio. Merging with Fairquest Energy (FQE-T), which should provide economies of scale. Very highly leveraged to gas. | 2007-04-04 | |
| Comment | 8.650 | Michael Simpson, CFA | Will be merging with Fairquest Energy (FQE-T). Recently cut distributions. They are targeting a 60%-65% payout ratio. Debt level is a bit higher than what he likes, but anticipates that over the next few months it will come down. Have a lot of good drilling opportunities. Could be softness over the next couple of months. | 2007-03-20 | |
| WAIT | 8.930 | David Cockfield | Hasn't been his favourite. In the process of buying back Fairquest Energy (FQT-T), which may turn out to be all right. Reasonably priced. Would wait to see what the budget does. | 2007-03-15 | |
| SELL | 9.310 | Robert Lauzon | Likes the general business plan. Unfortunately, with their type of gas wells being coal bed methane lower gas really hurts them. Has sold his holdings. | 2007-01-22 | |
| DON'T BUY | 9.460 | Michael Simpson, CFA | Excellent management. As a number of coal bed methane projects. This is not very economical in the current gas price. Have a lot of opportunities to replace their production by the drill bit. Distributions could be at risk. | 2007-01-04 | |
| HOLD | 9.450 | Glenn MacNeill, P.Eng. | Payout ratio is 67%. 16% yield, which is high and reflects the softness in the market. Gas oriented. 3rd quarter was slightly disappointing. Well managed. | 2006-11-10 | |
| PAST TOP PICK | 11.660 | Robert Lauzon | It has gone down due to the fact that it is a gas trust. In the long term recommends to stay with it. | 2006-09-29 | |
| HOLD | 12.000 | Peter Brieger | Does own at a higher price. Hold it if you own it. | 2006-09-26 | |
| BUY | 12.900 | Bill Carrigan | A lot of the gassy trusts look interesting. This one looks like it has had a higher low. Thinks there is positive divergence setting up in this stock. | 2006-09-15 | |
| BUY | 13.780 | Robert Lauzon | Highly levered to natural gas. Coal bed methane driller. Also do a lot of tight gas which needs a higher gas price to make it economical. If you feel gas will reach $8 this would be one to buy. A bit more risky. | 2006-09-08 | |
| BUY on WEAKNESS | 13.780 | Glenn MacNeill, P.Eng. | Has been reasonably soft, reflecting a good yield on its distribution. Distribution is not vulnerable, although if gas prices where to stay at these levels through Christmas, there probably would be a decline. Good management team and assets. Gas weighted, so buy on weakness. | 2006-09-08 | |
| PAST TOP PICK | 14.400 | Garth Jestley | (A Top Pick Dec 2/05. Down 16.6 %.) Still likes. Dropped along with natural gas prices. Fundamentals are still good. | 2006-08-11 | |
| SELL | 14.620 | Patrick Kim | On this one, you need to make a short-term call on natural gas prices. Essentially a pure gas play. One of the more aggressive plays in terms of their hedging policy. Now is a good time to trim and you will have opportunities to buy at lower prices. | 2006-08-04 | |
| BUY | 12.390 | Ravi Sood | Not on the top of his list for oil/gas trusts. At the level it is now, distributions should be reasonably secure. Good price. | 2006-07-21 | |
| BUY on WEAKNESS | 13.110 | Glenn MacNeill, P.Eng. | Gas weighted so has dropped with gas prices. Good management. Buy on any softness and spread your purchase out. | 2006-06-16 | |
| BUY | 16.350 | Wilf Gobert | Have had a bit of a slow start coming out of the gate. Has a significant natural gas focus which has been out of favour. You can buy looking for natural gas to go up or wait for it to actually happened. | 2006-04-25 | |
| PAST TOP PICK | 14.610 | Robert Lauzon | (A Top Pick Dec 23/05. Down in 11.5%.) One of the gassier names and dropped with the price of gas. A quality name and would add more on weakness. | 2006-04-07 | |
| PAST TOP PICK | 14.380 | Robert Lauzon | (A Top Pick Dec 23/05. Down 12%.) Being a gassy weighted name, this has come off in price. A good entry point. Still likes. | 2006-03-24 | |
| BUY | 15.720 | Dean Orrico | Gas weighted. Longer term, the gas market is going to be strong. Good value at these prices. They are experts in coal bed methane drilling which is a real upside. | 2006-02-03 | |
| PAST TOP PICK | 16.790 | Glenn MacNeill, P.Eng. | (A Top Pick Sept 2/05. Up 19.2%.) Has a great slate of properties in front of it in the higher risk Peace River area. Good management. | 2006-01-18 | |
| TOP PICK | 16.540 | Robert Lauzon | (A Top Pick Sept 23/05. Up 2.5%.) Has a slower decline rate of its reserve life. He also thinks the reserve life will grow over time. The fifth largest coal bed methane producer in Canada. This has a less sharp decline rate in underlying assets. | 2005-12-23 | |
| DON'T BUY | 16.950 | Peter Brieger | His original attraction to this trust was its exposure to coal bed methane gas. Thinks it is very overpriced in the short term. | 2005-12-15 | |
| TOP PICK | 17.230 | Robert Lauzon | Has had a good year, but still feels there are some good things happening. A gas weighted trust. The 5th largest producer of coal bed methane. Will be going into the index. Production guidance keeps growing. Management owns 17% of the trust. | 2005-12-08 | |
| TOP PICK | 17.060 | Garth Jestley | A relatively small trust. Has significant ownership by management. The fifth largest coal bed methane in Canada. It’s opportunity rich. Has over 300 possible drilling locations. | 2005-12-02 | |
| PAST TOP PICK | 16.100 | Glenn MacNeill, P.Eng. | (A Top Pick Sept 2/05. Up 11% plus distributions.) Likes what it's done with its properties. | 2005-11-30 | |
| HOLD | 15.900 | Bill Harris | All the hot global money has been chasing these stocks over the last several months and when it rolls, that money comes out fast. This is an A list name. It's fair price, so can't get excited about it right now. | 2005-10-19 | |
| PAST TOP PICK | 16.000 | Dean Orrico | (Top Pick July 29/05. Up 30%.) A gas weighted trust and still likes. They have about 150 drilling prospects. | 2005-10-18 | |
| BUY on WEAKNESS | 16.780 | Ravi Sood | Could be a further pullback along with the oil sector. If you see this one any lower, it would definitely be a buy. Good gas exposure. | 2005-10-14 | |
| BUY | 18.200 | Peter Brieger | The outlook for natural gas is much rosier and the growth is steadier than it is for oil. | 2005-10-04 | |
| TOP PICK | 18.490 | Dean Orrico | (A Top Pick July 29/05. Up 40% plus distributions.) Has exposure to the coal bed methane market. Has identified about 150/200 wells that it's going to drill over the next year or two. | 2005-09-30 | |
| TOP PICK | 16.100 | Robert Lauzon | (A Top pick June 17/05. Up 42%.) Continues to exeed expectations. Good guidance on production going forward. There's an distribution increase coming maybe by the end of the year. | 2005-09-23 | |
| TOP PICK | 14.320 | Glenn MacNeill, P.Eng. | Has a great slate of assets. Have been able to grow their production constantly. Good management which has a good stake in the company. 78% of production in gas. Probably a little expensive right at the moment. | 2005-09-02 | |
| TOP PICK | 12.980 | Dean Orrico | A recent conversion to a trust. The oil/gas trust space is getting pretty competitive. This is one trust that gives exposure to coal bed methane which looks to be the one growth area in the oil patch. | 2005-07-29 | |
| BUY | 10.850 | Peter Brieger | Likes this because of the nature of their reserves (coal bed methane gas) and the relatively low payout ratio. Also likes the Fairquest Energy (FQE-T), an offshoot of this. | 2005-06-29 | |
| BUY | 11.300 | Robert Lauzon | Gas weighted. Have a lot of coal bed methane assets which has a lower decline rate than oil and gas. Should have a nice stable 10 year reserve life. Lower multiples than the competition. Low payout ratio. | 2005-06-17 | |
Experts that have talked about Fairborne Energy Trust
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