2008 Q2 highlights (all figures C$ unless otherwise noted):
Due to the acquisitions, YOY comparisons may be misleading so I will be focusing on changes from Q1 2008. Keep in mind the big spike in oil prices during the quarter (and the big drop since).
Operating cash flow improved markedly in Q2 2008 to $671M, [...]
In the comments section at SeekingAlpha of my latest post on PWE, I mentioned part of the frustration of holding PWE was missing out on this huge run-up in energy prices. Here’s an excerpt (complete with chart):
2008 Q1 highlights (all figures C$ unless otherwise noted):
Operating cash flow came in at $367M vs. $296M YOY. However, taking into account the Vault and Canetic acquisitions (and the 51% share dilution accompanying them), OCF per share came in @ $1.02, down 18% from last year. Free cash flow (FCF) fell 42% [...]
Bruce Berkowitz and his team at Fairholme have been keeping busy with several new additions. Quick thoughts:
I am not sure if my scripts are handling the options correctly but since the options have the same CUSPID as the underlying stock, it is hard to tell which options the manager(s) are holding. Berkowitz has [...]
You can refresh your memory with my earlier reports and and updates here.
All results C$
Operating cash flow for the full year increased 12.2% to $1.2B, with free cash flow up 2% to $545M. Per share, OCF was down 5.4% and FCF/share came in at -14.1%. This is the result of 19% dilution due [...]
Here is the research from the old website. Any updates can be found on the this blog and will not be reflected on these older web pages.
ENLIGHTENED-AMERICAN PORTFOLIO PICKS
Agnico-Eagle Mines - (AEM-US) - updated 10/28/2007
Chesapeake Energy - (CHK-US) - updated 11/18/2007
Devon Energy Research Report - (DVN-US) - updated 02/12/2008
Elements ETN linked to the [...]
