TSX- iT3 Energy -low P/E - HIGH yield
Why I've been buying up some of these great valued stocks on the TSX
all produce around 50/50 Nat Gas / Oil
At this point in time ... I like iT3 out of the three low P/E 3-4 long-life onshore-based O&G reserves 20yrs+ at present 20,000BOEPD
and great yield 8-9% pa
I do hold JOY but think I'll shift more funds into IT3 ... JOY has half the BOEPD but does have a Nat Gas power plant and goal to have another one built ..
....Why TSX Canadian Nat gas & crude oil .. pricing as Canada has had for some time some of the lowest Nat Gas prices in the world alongside USA ... as the shale boom created an excess of Nat Gas .. But many experts think this won't last much longer and we could see north America heading towards much higher Nat Gas prices we see in the likes of Europe , Aus etc
LNG exports are increasing
worth a read and watch ...
https://www.youtube.com/watch?v=4U4dC22hGiI
We believe today’s North American natural gas market resembles that uranium market: despite widespread investor pessimism, it too is about to slip into “structural deficit”. Careful research and a differentiated outlook may reward the enterprising natural gas investor just as large profits accrued to the uranium investor back in 2018
https://blog.gorozen.com/blog/is-gas...ource=hs_email
worth a watch ...
last trade C$.19c = $230mill
OILMAN JIM
i3 Energy (I3E.L ITEEF ITE.TO) announced its operating and financial results for the three months ended 31 March 2024. Free cash flow for Q1 2024 was $15.0 million compared to $9.9 million for the same 2023 period. Highlights of the quarter were a new C$75 million reserve-based senior secured credit facility with the National Bank of Canada, comprised of a C$55 million revolving facility and a C$20 million operating loan facility, repayment of approximately C$57 million, representing the outstanding balance of i3 Energy's existing C$75 million loan facility with Trafigura, and average Q1 2024 production of 19,410 barrels of oil equivalent per day. Dividends of £3.084 million ($3.911 million) were declared and paid in Q1 2024. Post quarter-end, i3 entered into a definitive agreement to sell most of the company's royalty assets for a total gross cash consideration of $24.81 million (C$33.50 million). As at 31 March 2024, i3 had Net Debt of $21.0 million, which was eliminated at the close of the royalty disposition. The company says it is set up for a busy operational period for the second half of the year, during which it will drill a diversified inventory of drilling locations across its Canadian portfolio, designed to grow production and advance development of key assets.