1/17/13: Back on Our Radar
PetroBakken Energy Ltd (TSX: PBN, OTC: PBKEF) has fallen to a new 52-week low, despite management’s assurances that its distribution will be covered by better than a 3-to-1 margin with cash flow in 2013. The yield is now better than 10 percent.
Investors have driven down prices of Canadian oil and gas stocks in recent months, due in large part to worries about price differentials between Canadian-produced energy and benchmark West Texas Intermediate (WTI) crude.
The level of fear has been further augmented by dividend cuts at several of PetroBakken’s peers.
We more than doubled our money in a matter of weeks on a previous Big Yield Hunting recommendation of PetroBakken. With the stock back in single digits despite major advances in the company’s development, we’re expecting similar gains this time around. Buy under USD10.
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