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The information contained herein is accurate to the best of the author’s knowledge, but the material and interpretations contained herein should be independently verified by any party using this information as part of any research, editorial, or decision making process. Any views expressed here represent the author’s opinion only, and as such readers should do their own research and come to their own conclusions if they are using the opinions contained herein as part of any larger due diligence process. The author may have long or short positions in the companies mentioned and may be buying or selling in the market depending on which way the wind is blowing at any given moment. Opinions are subject to change without notice. Prospective resources, predictions, comparisons, financial projections, and extrapolated metrics are, by their nature, subjective and interpretation dependent. The topics covered are highly speculative and involve a high degree of uncertainty and risk. Speculative companies can and do go to zero. By using this site, you agree that the author(s) and Hydra Capital is/are not responsible for any damages incurred by the use of the presented materials. Anyone reading these blog posts should know that they are the author’s thoughts and opinions, which are not to be confused with or construed as research reports.
Disclosure: The following represents my opinions only. I am not receiving any compensation for writing this article, nor does Hydra Capital have any business relationship with companies mentioned in this post. I am long TGL.TO
I flagged Transglobe Energy (TGL.TO, last at $1.14) recently and was wary about posting my numbers because (a) I’m just a guy with a calculator, and (b) I didn’t want to look like an idiot if I was way off base. After having listened to Transglobe’s webcast presentation today on their newly renegotiated “Petroglobe” deal in Egypt, I’m comfortable enough to post the numbers as they come straight from the horse’s mouth. In a word, TGL’s newly renegotiated production sharing contract is truly “transformational”. It’s a win for TGL, it’s a win for EGPC, it’s a win for Egypt. By restructuring the fiscal terms of its contract and blending three prior contracts into one, a whole new world has opened up for TGL in its Eastern Desert concessions. I’m only echoing CEO Randy Neely’s sentiments by pointing out that while TGL has no doubt had a nice move up off its lows, I believe there appears to be a long way to go before this new deal is priced into the stock…
