Equal Energy Ltd. (NYSE:EQU)

CAPS Rating: 4 out of 5

An oil and gas trust. Its portfolio of crude oil, NGL and natural gas interests is geographically diversified and balanced between natural gas and liquids production.

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Member Avatar Kvedarna (99.50) Submitted: 5/15/2014 1:02:44 PM : Outperform Start Price: $5.20 EQU Score: -0.60

merger arbitrage

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Member Avatar InveniamViam (72.81) Submitted: 12/13/2013 4:03:49 PM : Outperform Start Price: $3.09 EQU Score: +50.31

$10 target

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Member Avatar skepticalbuyer (93.36) Submitted: 5/1/2012 1:32:22 AM : Outperform Start Price: $3.63 EQU Score: +9.11

I believe this is the cheapest value play in the O&G space if you look at enterprise value compared to the 10% discounted after tax value of the producing reserves. Good candidate for M&A activity.

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Member Avatar Nawaralsaadi (< 20) Submitted: 3/11/2012 11:00:12 PM : Outperform Start Price: $3.76 EQU Score: +1.70

Trading at 30%-40% of NAV; Mississippian joint venture to unlock value.

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Member Avatar Distressedstar (< 20) Submitted: 2/8/2012 11:51:52 PM : Outperform Start Price: $3.86 EQU Score: -4.11

0.6

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Member Avatar KimLanners (< 20) Submitted: 8/3/2011 8:33:55 AM : Outperform Start Price: $5.81 EQU Score: -62.90

oilgas

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Member Avatar idvst8 (< 20) Submitted: 6/27/2011 9:23:13 PM : Outperform Start Price: $6.25 EQU Score: -66.15

Cheap energy

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Member Avatar BACnumber1 (< 20) Submitted: 4/27/2011 4:57:49 AM : Outperform Start Price: $6.44 EQU Score: -64.24

I'll grow. OIL.

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Member Avatar liverless (37.87) Submitted: 4/17/2011 8:45:30 PM : Outperform Start Price: $7.63 EQU Score: -79.37

I think this company has a decent chance at turning it around. The following report by Above Average Odds is quite good.

http://www.aboveaverageodds.com/2011/03/10/investment-analysis-equal-energy-equ-classic-low-risk-high-return-value-centric-ep-with-above-average-growth-potential/

Make sure you read the comments. There are a lot of excellent counterpoints raised, as well as rebuttals by the authors.

The most interesting thing to me about Equal is the Mississipian play in northern Oklahoma. If you look at the presentations from another company, Sandridge, they are very optimistic about the Mississipian in northern Oklahoma. Sandridge points out 2 wells in Grant County that IP'd at 630boepd and 780boepd. 3 more wells in Alfalfa county IP'd at 892, 671, and 750 boepd. Equal has over 20,000acres in these two counties. They also have a bankrupt partner on those lands, and so one could hope they might look to expand their acreage there.

If you factor this unvalued upside of the Mississipian to the low metrics that it is trading at you have a decent opportunity here. They are 55% oil and NGL and trade at about 40,000bbl flowing and have an untaxed NPV of about $16. If I ignore their natural gas reserves entirely, they are trading at $16/bbl oil and ngl reserves.

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Member Avatar hoops1964 (30.74) Submitted: 5/30/2010 2:55:37 PM : Outperform Start Price: $6.43 EQU Score: -96.59

undervalued stock

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Member Avatar hybridinvestor (87.19) Submitted: 4/28/2010 3:47:33 PM : Outperform Start Price: $2.72 EQU Score: +34.62

Canadian oil is geopolitically safe oil long-term.

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Member Avatar airlinelimo (< 20) Submitted: 4/21/2010 4:12:18 AM : Outperform Start Price: $2.71 EQU Score: +37.89

outperform

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Member Avatar mad4house (< 20) Submitted: 6/20/2008 1:14:37 PM : Outperform Start Price: $4.60 EQU Score: -34.98

Bought this stock @ 6 weeks ago and can't wait till the market,jobs,houseing markets improve. Everything is so cheap now!!

Definate BUY!!!!

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Member Avatar shyigal (< 20) Submitted: 6/7/2008 4:35:50 PM : Outperform Start Price: $4.13 EQU Score: -17.04

NOW IT'S WORTH 4.4$ IN NOVEMBER IT WILL BE WORTH ATLEAST 5.5$ AND WILL START PAYING OUT DIVIDENDS AGAIN

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Member Avatar dabigmonkey (< 20) Submitted: 5/27/2008 3:07:04 AM : Outperform Start Price: $2.47 EQU Score: +72.38

The company is aggressively paying down its debt while at the same time oil and natural gas prices are rising. Look for two more huge quarters this year in which they will seriously lower their debt and then possibly start issuing a monthly dividend again. Further into the future, through debt reduction the company will be well positioned to maintain profitablity when oil loses value to our current levels ($130 barrel). The new management seems (duly) keen on fiscal responsibilty. End of 08 prices should be in the $8-$10 range, with 09 prices in the $15 range and monthly dividends of roughly $.05/share.

With major nations/oil companies unable/unwilling to expand oil output and demand growing, I can't forsee oil dropping below the $100 mark in the next few years, and will hazard a guess that it will remain in the $125-$150 range.

In the interest of full disclosure it must be stated that I own shares of ENT.

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Member Avatar Jamestr123 (82.72) Submitted: 5/20/2008 9:56:07 PM : Outperform Start Price: $4.37 EQU Score: -19.44

Sounds good!

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Member Avatar CaptainDaag (64.95) Submitted: 5/20/2008 3:52:54 PM : Outperform Start Price: $4.24 EQU Score: -15.75

With the rising price of oil, the rollout of CNG vehicles among others, profitability may be hard to avoid. And if a dividend is reinstated, even at the low of .06, the price is going to rocket with the added support of shares having been bought at a price creating a yield for early shareholders that will be nearly impossible to turn away from thereby limiting a profit-taking selloff.

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Member Avatar GTon9 (20.68) Submitted: 5/17/2008 8:28:55 PM : Outperform Start Price: $4.17 EQU Score: -12.24

Oil price will continue climb. Unless new alternative energy can replace oil.

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Member Avatar handoverhill (< 20) Submitted: 5/16/2008 8:30:10 AM : Outperform Start Price: $3.73 EQU Score: +2.93

Enterra Energy Trust's revenue for the end of last year decreased 15% and the net loss decreased 77%, so this means that they did make a profit. The revenues reflect decreased sales of oil and natural gas. This stock is in the financial sector and the industry of misc. financial services.

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Member Avatar soiht (< 20) Submitted: 5/16/2008 8:25:58 AM : Outperform Start Price: $3.73 EQU Score: +2.93

re

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