| PAST TOP PICK | 64.350 | Peter Hodson | (A Top PIck July 26/05. Was a take out. Up 34%.) | 2005-11-17 | |
| HOLD | 63.250 | James Cole, BA, CFA | The next several weeks are going to be very interesting. Have been some big developments this week with a formal offer coming in from China. Could be a counter bid from India. He would take some of the money off the table. Stock is cheap selling below net asset value. He is prepared to invest in this as a going concern. | 2005-09-22 | |
| SELL | 64.720 | Jean-Francois Tardif | Thinks that China will be more aggressive than India on the oil front, so thinks it will end up being the deal that's on the table right now. | 2005-08-29 | |
| HOLD | 66.200 | David Burrows | A very attractive asset. Wouldn't be surprised to see the price driven up by another bid. | 2005-08-25 | |
| TOP PICK | 64.580 | Jim Huang | More a case of holding for the $55 cash bid rather than buying. Has lots of oil and is trading very cheaply. Thinks there will eventually be a spinout of a junior oil by the current management which will create value. | 2005-08-22 | |
| BUY | 52.500 | Werner Muehelemann | The biggest risk is essentially the political/country risk. You can see the volatility of it in the last several months. Extremely cheap if you compare it to the integrated companies here in Canada. There are also some interested outside buyers. Feels there's s ome good upside on this. | 2005-08-09 | |
| TOP PICK | 48.900 | Peter Hodson | Has been approached by numerous parties for a takeover. Trading at least half of international oil companies. Takeover will be higher than the current price. | 2005-07-26 | |
| SELL | 48.700 | Michael Smedley | Dropped quite a bit and then has reclaimed a lot of its lost ground on the idea that it is for sale. Tomorrow is an unknown and would sell if you own. | 2005-07-20 | |
| HOLD | 47.100 | Gavin Graham | A lot of problems with the government. Could be some buyers for the company and if you own, you could end up with a small premium over the present price. A lot of uncertainty and this will continue. | 2005-07-13 | |
| DON'T BUY | 46.320 | David Baskin | He would run for the hills. Doesn't trust the government. | 2005-07-11 | |
| DON'T BUY | 46.090 | Bill Harris, CFA | Looks like the company is up for sale, but expects the price will be within $5 of its current price. A fantastic story, but you never know from one day to another what's going to happen in that part of the world. Too hard to call. | 2005-07-08 | |
| HOLD | 47.110 | Ron Meisels | Stock had been rising and the 200 day moving average had been doing very well until there was a big drop in early '05. 200 day moving average is starting to straighten out and is currently right where the price is. There was too much of a drastic sell off. If you own, use a $40 stop loss. | 2005-07-07 | |
| BUY | 47.110 | Wilf Gobert | Has been rocketed this year by bad news. The Indian National Oil Company approached them about a possible takeover. This could result in a 3 way bidding war. | 2005-07-07 | |
| BUY | 46.310 | James Cole, BA, CFA | Kazakstan borders China and there is a pipeline being built which will start up at the end of this year. This company has the oil to fill it. There could also be an interest in China, Russia, India, etc. to acquire the company. | 2005-07-06 | |
| BUY | 44.770 | John Stephenson | An interesting story. Has been hugely undervalued because of the whole political risk associated with where its operations are. Their problems would all be solved in the Chinese, the government or Lukoil acquired them. Think they will get a deal done and will pay 10/15% over its current price. | 2005-06-30 | |
| WATCH | 38.900 | John Stephenson | Would be cautious on this. It has had a disasterous year. If you look at the operating and financial metrics it has been stupendous. Trading very inexpensively at 3.7 X EPS versus 10 for it's peers. There are a lot of issues with political overhangs, CEO leaving, disputes with a major refinery. Would wait for more of a base to set in. | 2005-06-21 | |
| DON'T BUY | 40.100 | Joseph Schachter | Very controversial. Has oil and a good refinery upgrade where you can make money. They are in confrontation with both the government and the country's largest oil producer. | 2005-06-20 | |
| DON'T BUY | 32.920 | Peter Gibson | A lot of geopolitical risks. All kinds of issues here. When economy slows, you tend to have a correction in oil prices. Feels that oil prices are going to pull back to $43 by year end. Probab;ly has more downside to it. Would wait for the price to hit $20. | 2005-05-13 | |
| WAIT | 32.600 | Andrew McCreath | The market did not like the news of the CEO retiring. Would wait for the dust to settle before going into this stock. | 2005-05-04 | |
| WAIT | 34.160 | David Burrows | A tough story because it's an incredibly well managed business, great assets. Unfortunately they are in Kazakstan which always has political risks. Not considered as a safe haven. Will be a higher volatilty stock. Wait for some strength to come back into the energy sector. | 2005-05-03 | |
| BUY | 39.100 | David Cockfield | The present problem is not as serious as some of their past problems with the government that they were able to stick handle through. | 2005-04-21 | |
| WEAK BUY | 40.280 | John Stephenson | Uktinmately the dispute will get resolved, but ultimately you do not want to get that close to a world of words. Fairly reasonable value and cheap when compared to Cdn/US peers. A fairly safe entry point for people who are a little more risk tolerant. | 2005-04-19 | |
| BUY | 47.000 | Brian Prokop | There is political risk there, but you have to remember, Kazakstan is not Russia. Management has a very good relationship with the country. Cheap. | 2005-04-05 | |
| BUY | 47.940 | John Stephenson | With the pull back, it's a buying opportunity. A solid performer. It doesn't get the credit it deserves largely because of the country risk. Looking at valuation, capital employed, it's an absolute star. Trading at an earnings per share basis (EPS) at 6.1 X versus 13. | 2005-03-30 | |
| WEAK BUY | 48.010 | Brian Acker, CA | Looks undervalued, but you need a pace maker for this particular stock. The good news on this stock is for long term holders. It's earning so much money that it's balance sheet grows and as you can see by the progression of the stock, even over the last year, basically it's a growth of the balance sheet. You're not getting a valuation pick-up, but you are getting a growth in earnings. | 2005-03-22 | |
| BUY | 48.800 | Matt Baillie | A low multiple stock because of country risk (Kazakstan). The story here is getting their transportation costs down which they have been doing. Huge cash flows. Sell-off is a buying opportunity. | 2005-03-16 | |
| BUY | 52.550 | Peter Hodson | Higher than expected production base. Increasing dividends. | 2005-03-01 | |
| DON'T BUY | 53.880 | David Baskin | Political risks. Poor government. Very risky | 2005-02-28 | |
| BUY | 48.540 | John Stephenson | Fundamentally it's in outstanding shape with incredible return of capital enployed. In an unstable region, so there is geopolitical risk. You can hold this and be comfortable. | 2005-02-15 | |
| TOP PICK | 45.600 | Jim Huang | Even after the rise they've had over the last 5 years, they are trading at very low mutiples, 5 X this year's earnings and 6 X cash flow. This is because of their location in Kazakhstan which makes investors nervous. The government is very good in maintaining law and order. Doing buisness at a low cost and making a lot of money. | 2005-01-19 | |
| HOLD | 42.350 | Ian Nakamoto | A very volatile stock. An excellent company. | 2005-01-05 | |
| BUY | 46.590 | Robert Lyon | Still some good upside left. | 2004-12-15 | |
| BUY | 45.510 | John Stephenson | Has extremely good fundamentals. Has country specific risks and it trades at a discount for it, but the discount is huge. Trading at an earnings per share level of around 9 X multiple versus 14 for its comparable peers. Return on capital employed (ratio of economic efficiency) 47% which is enormous. Virtually no debt. | 2004-12-14 | |
| WATCH | 44.000 | Mark Jackson, CFA | Will be driven by oil price. Good production profile and could see some production growth going forward. Likes the international oil plays. They tend to be relatively cheap. Buy based on the price of oil. | 2004-12-07 | |
| DON'T BUY | 44.840 | David Baskin | Probably a cheap stock on a fundamental basis, but the geo-political risks are too high. | 2004-10-12 | |
| BUY | 39.700 | Brian Prokop | Risks are 1) all oil, 2) only in Kazakhstan. The 3rd largest producer in that country. Generating a lot of cash and have had share buybacks. Relatively cheap because of their location. | 2004-09-15 | |
| BUY | 38.100 | Werner Muehelemann | One of the cheapest integrated companies. Political risk. Showing nice growth. Earnings are very good. Well-financed. | 2004-08-09 | |
| BUY | 39.000 | Robert Lyon | Stock is cheap and should go higher. There is a discount multiple based on geographic location. Doesn't have a long reserve life. We'll have to do some more drilling. | 2004-08-05 | |
| DON'T BUY | 43.100 | David Baskin | The situation that happened in Russia in the last month could also occur in this stock. Not situated in a well established democracy that will protect shareholders. Risky. | 2004-07-29 | |
| DON'T BUY | 37.360 | David Baskin | When you invest in an exotic country you take on a whole bunch of different economic, political and government risks. | 2004-07-07 | |
| DON'T BUY | 37.970 | Michael Sprung | Fairly high risk outlook. Has been extremely profitable and successful. Price is good, but there are the geographical/political risks. | 2004-06-21 | |
| BUY | 36.770 | John Stephenson | Very low levels of debt. Huge reserves. Low finding and delivery costs. | 2004-06-10 | |
| BUY | 37.150 | Neil Wickham | The business itself is exceptionally strong. If it were located in North America, it probably would be worth double its current price. Difficult political environment. | 2004-05-25 | |
| BUY | 38.750 | David Baskin | The fundamentals of the stock are very strong. Probably the cheapest of the Toronto listed oil/gas producers. There is a geographic risk. | 2004-04-27 | |
| PAST TOP PICK | 37.880 | Craig Porter | (A top pick Jun 2/03. Up 143%.) There are still hiccups in the region which scares people away. Probably 6/7 X earnings compared to other companies at 15/20. Getting fully valued. | 2004-03-11 | |
| DON'T BUY | 37.125 | Gavin Graham | It's the cheapest oil stock anywhere in North America because of political instability. Can be volatile and risky. May go back into it if it gets cheap enough. | 2004-03-04 | |
| HOLD | 32.410 | Ross Healy | FMV this stock is much higher than the current stock price. Has loads of potential. Has some potential political problems. | 2004-01-20 | |
| WEAK BUY | 29.470 | Bill Harris, CFA | Geographical risk. Have to expect anything, any day. fantastic opportunity, but very risky. Recently solved pipeline issue. Low cost mining. | 2004-01-02 | |
| BUY | 28.110 | Peter Arender, CFA | Really cheap evaluation, The P/E is 5/6. Volatile stock. Pumping out cash. | 2003-12-23 | |
| DON'T BUY | 24.750 | Peter Linder | Dropping because of a tax situation with the Russian government. Very volatile. | 2003-11-20 | |
| PAST TOP PICK | 27.940 | Larry Berman CFA, CMT, CTA | (Top pick July 21/03. Up 51%.) Had a good day's pattern and had bought as a defense. Technically, it is overbought. Until you see a weakness (Candlestick pattern) continued to hold. | 2003-09-15 | |
| BUY | 22.920 | Andrew McCreath | Dirt-cheap.Thinks there's a little hair in the story.It announced buybacks, and there are takeover rumors.This is why the stock has been moving up.Partners see good, solid above average earnings and cash flow growth. | 2003-08-15 | |
| BUY | 15.920 | Brian Acker, CA | Their model price is considerably higher than the asking price.A long-term hold.Huge cash flow and using it to buy back shares. | 2003-08-12 | |
| WEAK BUY | 19.500 | John Zechner | Higher political risk than with others.Good production.Strong management. | 2003-08-07 | |
| TOP PICK | 17.050 | Larry Berman CFA, CMT, CTA | Has a great chart. Good trading stock. Should be higher in 3/4 months. | 2003-07-21 | |
| WEAK BUY | 16.880 | David Cockfield | Their problem is the offshore political situation. Good management. Volatile. | 2003-06-26 | |
| TOP PICK | 16.600 | Jim Huang | Higher risk, but should be able to produce cheap oil. | 2003-06-02 | |
| WEAK BUY | 14.350 | Peter Arender, CFA | Khazikstan has enormous reserves, but also political insatbility. Valuation is extremely attractive. | 2003-04-09 | |
| BUY | 15.000 | Michael Smedley | Very rich company and at a cheap price. | 2003-03-31 | |
| DON'T BUY | 15.000 | Andrew McCreath | Geographic location could have political problems. | 2003-03-28 | |
| DON'T BUY | 16.330 | Ross Healy | In a politically unstable area. | 2003-03-19 | |
| DON'T BUY | 16.280 | David Cockfield | Not a big fan of offshore stocks. Government has put up some roadblocks which they are working on. Excellent properties. Political risk. | 2003-01-24 | |
| BUY on WEAKNESS | 16.050 | Brian Acker, CA | Good trading stock. Buy around $9. | 2002-11-07 | |
| DON'T BUY | 17.530 | Robert Floyd | Will be volatile because of holdings in political touchy areas. | 2002-11-01 | |
| DON'T BUY | 16.550 | Peter Brieger | A long term speculative stock. | 2002-10-23 | |
| HOLD | 16.550 | Ross Healy | Cheap in relationship to its earnings and upside potential. Their wells are in a politically risky area. | 2002-10-23 | |
| HOLD | 14.990 | John Clarke | Speculative. Production forcasts were overstated. Probably a take out candidate. | 2002-10-08 | |
| BUY | 17.780 | Gavin Graham | Cheap because of supposed risk in Asia. Volatile. | 2002-09-20 | |
| WEAK BUY | 17.500 | David Cockfield | The politacal concerns seem to be settling down. Looks OK. | 2002-09-06 | |
| DON'T BUY | 15.550 | John Clarke | Has political risks in some of their properties. | 2002-08-27 | |
| HOLD | 13.250 | Michael Smedley | Political risks has kept price down. | 2002-08-22 | |
| DON'T BUY | 12.500 | Robert Floyd | Very volatile. Be careful. | 2002-08-15 | |
| DON'T BUY | 10.660 | David Cockfield | Not a fan because of their foreign assets. | 2002-07-19 | |
| DON'T BUY | 11.480 | Mark Jackson, CFA | In unstable regions. Prefers companies with domestic assets. | 2002-07-09 | |
| HOLD | 14.290 | Ian Nakamoto | Very volatile. Prefers others. | 2002-07-04 | |
| DON'T BUY | 14.000 | David Burrows | A lot of risk. Could be a big payoff. Prefers others. Wait for an uptrend. | 2002-06-28 | |
| DON'T BUY | 19.640 | David Cockfield | Great fields, but a political risk. Caution. | 2002-06-07 | |
| HOLD | 19.640 | Peter Brieger | Because of Kazakhstan, it is more speculative. | 2002-06-07 | |
| BUY | 21.500 | Brian Acker, CA | Likes and would buy more if it dipped. | 2002-05-28 | |
| BUY | 22.770 | Ross Healy | Below its FMV so its a good price. Some political risks. | 2002-05-23 | |
| BUY | 23.500 | Mike Weir | Has more upside. Good management. | 2002-05-15 | |
| PAST TOP PICK | 23.000 | Michael Sprung | (Was a top pick on Jan 17 up 91.5%) Took some profits at over $20. | 2002-05-14 | |
| DON'T BUY | 21.990 | Glenn MacNeill, P.Eng. | Doing some good things. Some risks. Quite high. | 2002-05-07 | |
| BUY | 22.650 | Brian Acker, CA | Likes their balance sheet. A lot of cash. | 2002-04-30 | |
| BUY | 22.650 | Peter Brieger | Speculative. Good price. | 2002-04-30 | |
| PAST TOP PICK | 22.500 | Michael Smedley | (Was a top pick on Mar 26 down 14%) Still likes. Very cheap. | 2002-04-29 | |
| WEAK BUY | 20.250 | Ross Healy | Very expensive on a price to book basis, but good upside potential. Torn between FM Value and Price to Book. | 2002-04-25 | |
| BUY | 20.600 | Steven Wippersteg | Good assets/price. Take over possibility. | 2002-04-23 | |
| BUY on WEAKNESS | 19.980 | Brian Acker, CA | Buy at $16/16.50. Volatile. | 2002-04-12 | |
| BUY | 20.800 | John Zechner | Political risks because of location of oil reserves but it has a good valuation. | 2002-04-11 | |
| DON'T BUY | 19.400 | Robert Floyd | Good management. May be a little high. | 2002-04-05 | |
| DON'T BUY | 21.490 | David Burrows | Their foreign field holdings are politically risky. Volatile. | 2002-04-03 | |
| STRONG BUY | 23.830 | Steven Wippersteg | Good production. Very cheap. The only risk is their Khazascan assets. | 2002-04-01 | |
| TOP PICK | 24.350 | Michael Smedley | Good assets/management. | 2002-03-26 | |
| DON'T BUY | 23.950 | Glenn MacNeill, P.Eng. | Well managed, but may be a little high. | 2002-03-25 | |
| PAST TOP PICK | 18.100 | Michael Sprung | Still likes. Well managed. | 2002-03-11 | |
| WEAK BUY | 18.750 | John Zechner | Valuation is good but there is some risk. | 2002-03-05 | |
| TOP PICK | 16.980 | Michael Smedley | Very cheap. Operation costs are low. Good management. | 2002-02-21 | |
| BUY | 12.580 | David Cockfield | Things have settled down in their Asian oil fields. Could be a possible takeover by a Russian company. | 2002-01-30 | |
| TOP PICK | 11.490 | Michael Sprung | Good contracts and agreements. Very low price. | 2002-01-17 | |
Experts that have talked about PetroKazakhstan Inc
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