Investment Q&A

Q: Hello 5i,
In light of current status with oil and gas markets and what now most likely will be prolonged high prices, could you suggest two or three junior or mid cap O&G producers that might currently have greater upside opportunity than the larger producers.
Thank you so much for so many years of very sage advise.
Ralph

Q: Your analysis on the latest quarter, balance sheet strength and whether stock is a buy. Thank you!

Q: I own these Mid Cap oils that have generally defied the downward oil pressures in 2025 and performed well. All with the exception of Baytex are in a significant gain position.

For the past few months i continue to hear of Oil surpluses, and prices in the 50s or even hi 40s in 2026 before outgrowing the oil surplus in 2027.

Do you think it advisable to sell some of this position and look at re-entry in mid to later 2026 to crystallize some of 2025's returns on these mid caps?

Q: Looking for a long term hold with some growth, some dividend and no gut wrenching volatility. What do you think of my choices? Do you have a better choice?

Q: Your thoughts on the latest quarter and if you had 3/4 position, would you buy more, sell or hold? Thanks!

Q: What’s your take on Baytex’s announcement of a sale of their Eagle Ford assets. As a longterm holder currently down 45% I’ve been patiently waiting for a turnaround. It has definitely been moving in the right direction for months and much speculation surrounded the need to divest American assets to be the catalyst for further recovery. Where do you see this stock over the next year or two?

Q: I have owned BTE for a few years now and it is no surprise I am underwater on it in all the accounts it is held. As the price of oil continues its slow march downward I am working out what to do with my O&G stocks. Most are solid companies and many have a decent dividend to tide one over. Baytex is one that does not; that is in addition to its dismal performance over the years.

I would like to know if the assets of Baytex, at some point, would be a useful "fit" for another firm when merger mania hits the oil patch? If so, who would be the likely bidders?

With oil price forecasts into 2025/26 looking dismal if one abandons the idea of a suitor buying BTE, would you still view it as a hold, or is it better sold and the money put to a more accomplished non-O&G growth story?

Thanks as always.

Dave

Q: BTE, I know not your favourite but recently it has been slowly climbing up the charts. Your thoughts please.
Thanks Gordo

Q: Baytex BTE is my worst performer in my oil & gas sector portfolio. What is your assessment of the management? Is it a quality company? Will it be able to survive this down cycle? Assuming $70 WTI by the end of the year, will it outperform most other well known oil & gas stocks in Canada? I.e. Does it have good leverage to the price of oil? Or is this a value trap and should now be sold?

Q: Your thoughts on the company and latest quarterly results. Thanks

Q: While I am very overweight oil & gas producers I am not concerned as I bought several of these at under $1 which explains the overweight position. However, I do have capital losses on BTE and that got me thinking that maybe I should consolidate into the 3 best if I can manage the large capital gains tax. Would MEG, TVE and WCP be your choice? My only concern would be VRN which is currently a 7 bagger and I'd have to do that over time. Any comments or concerns with this or should I just continue to hold all. I do have a very large, diversified portfolio.

Q: What CAD oil companies produce mostly light vs heavy oil.

Q: I know this may be hard to answer exactly.
To the best of your knowledge . Who are the top 5 CDN. companies doing substantial or aggressive buy backs ? Also the same question for the US side.

Thanks for your valuable service.
Cal

Q: With the uncertainty of Trump how do you feel about the oil/gas companies. Specifically CVE, ATH, MEG, BTE. Is it time to buy sell or hold.

Q: Another big drop for Baytex. Are you aware of any reason?

Q: Baytex dropped in excess of 7% today. While I expect there's more than one question on it, it'd be great to get your take on this. They announced their capital budget yesterday and it appears to be a story of moderate growth pushing out their debt target date to 2028. I am a bit surprised by the magnitude of the decline if this is the root cause and wondering if there is more to the story.

Please provide your read on the decline and whether this presents a buying opportunity, or should one move on from the company to better opportunities?

Thanks as always.

Dave

Q: big drop today, reaction to budget for 2025, oil prices or combination?

Just like to get your thoughts

Q: DEAR 5-I:
Thanks for the information on Parex, however, there was a second part to the question. If I dispose of Parex because it is doubtful if the political situation will improve in the near term- what could you suggest for a replacement, CNQ-? already own a full position in Suncor, ARC, Baytex, Tourmaline, and TVE. How about Peyto?

Thanks, Ben

Q: I own these oil/gas companies. With everything that is going on in the world is it time to take profits and buy again later? Please rank for future profits best first. Buy, Hold, Sell

Thank you

Q: what was your take on their earnins call and their plan of distributing the free cash flow between share buy backs dividends paying down debt?