Investment Q&A

• Tourmaline Oil Corp. (TOU)
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Q: Is there any reason that would drive TOU to increase the regular dividend but lower the special dividend? Over all, the impact is the same but there must be a driving reason behind this decision?

At what price do you think TOU gets attractive to add to a position?

Upvote 1

Read Answer Asked by Cathy on March 11, 2025

• Ensign Energy Services Inc. (ESI)
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Q: What do you think about the most recent results for esi and the prospects for this company going forward? What is the stock falling?

Upvote 2

Read Answer Asked by Irwin on March 11, 2025

• Veren Inc. (VRN)
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Q: Do you know what the tax consequences will be for Veren shareholders? I see no mention so I am assuming that this will be a taxable event. I'm hoping that as a merger it will not result in capital gains taxes but just an adjustment to the ACB.

Upvote 3

Read Answer Asked by Earl on March 10, 2025

• Veren Inc. (VRN)
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Q: Holder of vrn. your recommendation of selling now or accept the offer.
Thanks

Upvote 2

Read Answer Asked by Rick on March 10, 2025

• Whitecap Resources Inc. (WCP)
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Q: With the upcoming merger, what happens to WCP shares I already hold? Related, is WCP a sell or hold?

Upvote 3

Read Answer Asked by garry on March 10, 2025

• Algonquin Power & Utilities Corp. (AQN)
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Q: Your analysis of aqn’s results beyond just the numbers would be appreciated. Is the transition to a pure play working to stabilize operations and balance sheet?

Upvote 4

Read Answer Asked by Donald on March 10, 2025

• Veren Inc. (VRN)
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• Whitecap Resources Inc. (WCP)
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Q: I understand that WCP and VRN have announced a merger in an all stock deal to take place in May 2025.

For those of us that own both stocks, is this considered very good news and what are your expectations in terms of potential short and medium term returns?

Thank you and I'll wait your response.

Francesco

Upvote 9

Read Answer Asked by Francesco on March 10, 2025

• Veren Inc. (VRN)
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Q: I have many "in the money" June/July/Sept.2025 calls on Veren. Please provide any information on what will happen to them now that there is a merger with Whitecap. Thank you Gordo.

Upvote 3

Read Answer Asked by gord on March 10, 2025

• Gibson Energy Inc. (GEI)
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Q: Greetings,

I am wondering if Gibsons is worth a punt at less than $20 ish to be treated as a trading stock whilst being paid to wait for an uplift?


1. Highly leveraged - Could this be a big problem going forward? Are the dividends safe?
2. From what I can tell, 5 separate Insiders bought meaningful amounts of stock on Feb 20th - They must know something?
3. Sudden steep decline - Maybe an over reaction?
4. Trading range - Since 2019 the stock seems to be trading in the range $20 - $26 - Can we hope on a reversion to the mean?
5. Are it's problems self inflicted or general market sentiment ?

Many thanks!

Upvote 3

Read Answer Asked by Arzoo on March 10, 2025

• Chord Energy Corporation (CHRD)
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Q: Hi 5i,
As a previous Enerplus shareholder I still unfortunately hold Chord Energy with some disappointing losses. Can you please give your thoughts on this company and would you still consider it a hold?
Marco

Upvote 2

Read Answer Asked by Marco on March 07, 2025

• Canadian Natural Resources Limited (CNQ)
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• Tamarack Valley Energy Ltd. (TVE)
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Q: For the past few years I've kept positions in CNQ, TVE and IPCO but I've recently been slowly reducing my positions in TVE and IPCO (and using the proceeds to add to CNQ). Last week I sold my remaining shares of IPCO, so I only have CNQ and TVE left for E&P exposure (although I have a few other positions in services companies such as PSI and PSD).

I'm debating selling the rest of my TVE shares to consolidate my E&P exposure into CNQ. What are your thoughts?

Upvote 7

Read Answer Asked by Patrick on March 07, 2025

• Surge Energy Inc. (SGY)
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Q: Are there any companies who would find SGY assets interesting enough to acquire or are they just to small.

Thank you,
Mike

Upvote 5

Read Answer Asked by Mike on March 07, 2025

• Tourmaline Oil Corp. (TOU)
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Q: Just wanted to mention to you that in your answer to Donald today regarding TOU, you indicated they declared a special dividend of 50 cents, but the actual special distribution declared was 35 cents. The regular distribution was increased to 50 cents.

They basically flip-flopped the 2 dividends. Previous quarter, the special was 50 cents, and the regular was 35 cents.

Upvote 4

Read Answer Asked by Dan on March 07, 2025

• Canadian Natural Resources Limited (CNQ)
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Q: I know you think very highly of CNQ. What did you think of their earnings?

Upvote 5

Read Answer Asked by Ed on March 07, 2025

• Tourmaline Oil Corp. (TOU)
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Q: Can you comment on their recent earnings announcement. Thanks.

Upvote 3

Read Answer Asked by Donald on March 06, 2025

• South Bow Corporation (SOBO)
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Q: Hi 5i Team,
Pls comment on South Bow Corp. earnings report, and this company going forward.

Is it still buyable for income and hopefully with some growth.

Thanks

Upvote 5

Read Answer Asked by Pui on March 06, 2025

• Whitecap Resources Inc. (WCP)
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• Tamarack Valley Energy Ltd. (TVE)
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Q: Hi

I read your answer on TVE that one could slowly acquire shares of TVE during this weakness.

How about WCP? Is it interesting at these levels? Between the two, which one would you buy first today?

Thanks,
Robert

Upvote 7

Read Answer Asked by Robert on March 06, 2025

• Baytex Energy Corp. (BTE)
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Q: Your thoughts on the company and latest quarterly results. Thanks

Upvote 3

Read Answer Asked by Sandy on March 06, 2025

• Canadian Natural Resources Limited (CNQ)
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Q: If you had no exposure to the oil and gas sector, would you be a buyer of some Canadian companies at this time? Or would you be inclined to wait out some of the tariff noise? If so, what conservative large cap companies would you focus on? Thanks, J

Upvote 12

Read Answer Asked by John on March 05, 2025

• ARC Resources Ltd. (ARX)
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• Tourmaline Oil Corp. (TOU)
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Q: Hi 5i
1) What portion of NG is sold to USA versus LNG Canada (soon) and domestic consumption? 2) Canadian oil sands withstood negative oil prices for months - but it still flowed (and hence required condensate) - to what extent do you think Condensate (ARX/TOU) will be affected if there is reduced oil flow from Canadian oil sands. Thank you.
Glenn

Upvote 3

Read Answer Asked by Glenn on March 04, 2025