Lightstream Resources (LTS.TO) Buy, Sell or…

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Daily Stock Opinions and Ratings

Lightstream Resources (LTS.TO)

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DON'T BUY

Not sure how sustainable the dividends are.

DON'T BUY

Not one of his favourites. Company is just a little too promotional for his liking. Started off as one of the developers in the Bakken fields in North Dakota but have gone off in other areas. Got into the flood system to extract more oil but this seems to have faded into the background.

DON'T BUY

The dividend should be in total jeopardy. The company is using debt to pay it. Totally unsustainable. Yielding 8.6%.

COMMENT

High quality company. Everything on a fundamental basis looks excellent. When the cycle turns back, you are going to want to own it.

HOLD

Has disappointed repeatedly in terms of production. Wed weather earlier this year was a problem. He doesn’t see any catalyst for this name. It’s an execution problem – a “show me”

HOLD

Spent a lot of money getting land and into the Cardium oil play. Results so far have not been good. Stock has dropped so much it is no longer expensive and at some point could become a takeover target. Wouldn't short. Would like to see some operational momentum before abandoning.

SELL

Has a lot of production in south east Saskatchewan, which had a VERY wet quarter. They have the newest wells so has the highest decline rate and are affected the most in the quarter. He switched to LEG-T. Market is not paying PBN for the high yield (7.5% today) so he thinks they should cut it and use the cash. There is a disappointing quarter coming. He sold. It is a short term sell.

DON'T BUY

Bought Cardium land at a very expensive price. Difficult for them to grow because their 40%-50% decline rates are so high. Production of 40,000-41,000 in Q1 and could be 37,000. Weather has been very difficult in southeast Saskatchewan. Really should cut their distributions.

DON'T BUY

He would prefer Crescent Point (CPG-T). They both operate in the Bakken fields, but Crescent point is the more aggressive of the two. They have been quagmired in their balance sheet and he would worry that they might suspend their dividends.

HOLD

A sad story. Sill paying a good dividend, about 5%, which not common in the oil patch. The group has had some challenges and some good history. Its performance simply has not been good. Feels they will favour keeping the dividend in place. All you can do is wait.

SELL

Been a disaster. Overpaid for Cardium assets. Paying dividend not supported by cash flow. Avoid this stock.

DON'T BUY

Would stay away until he saw some good solid progress with cash flow, etc.

SELL

Not a fan. Got over promoted. Got into some water flood approach that didn’t seem to work that well. Looking at a tightening financial situation and have to make some tough choices. Will be an underperformer and is a tax loss candidate.

DON'T BUY

Just had a breakdown a few days ago. Distinct downward trend so stay away for now. Seasonally you want to buy oil stocks around the beginning of November. The real sweet spot is beginning of January until the end of April.

PAST TOP PICK

(A Top Pick April 12/10. Down 37.59%.) Sold last summer. Have very high decline rates.

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Lightstream Resources (LTS.TO)