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Midstates Petroleum Company, Inc. Message Board

  • boss_shorty Jul 18, 2013 7:32 AM Flag

    An MPO alternative with upside

    This small oil explorer, Buccaneer Energy Limited (BCGYF) is going great with some real upside. They have lease in Cook Inlet in Alaska and have a jack-up rig working right now. Set casing and ready to test a new oil discovery. Main office in Houston. They are producing gas from two well right now. They are working thru some recent problems, but they have a good lease holding in a known oil /gas area of Alaska. Lots of upside with this company in the next year.
    Buccaneer Energy Limited (BCGYF)
    -OTC Markets

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    • It looks like this company has 1.5 Bn shares outstanding, which is an absurd amount for an E&P that small. Further, the stock has 100k daily volume @ 0.04./share. You couldn't even buy $5k worth of stock without eclipsing the total avg daily volume. I won't say anymore except that there is no way you can compare this stock to MPO on any metric.

      • 2 Replies to iuinvestor0322
      • boss_shorty Jul 28, 2013 12:52 PM Flag

        Stock has already moved up over 30 % since I posted. Apache Corp is ready to make a big farm-in agreement with the company which will finance their drilling plans for the next 2 years. The Cook Inlet in Alaska has lots of upside.

        Sentiment: Strong Buy

      • Analyst with Suntrust, a SD article below. Comment on MPO is positive. Anyone seen his report on MPO. It is the only pick that is not primarily basin focused. Still seems a good buy around $6.

        Onshore, my favorite play is the Utica Shale, in which my top plays are Gulfport Energy Corp. (GPOR) and Rex Energy Corp. (REXX). Both companies have highly economic acreage, solid balance sheets and industry-leading production growth. I also like Rex Energy for its likely production upside. Another one of my favorite plays is the Eagle Ford Shale, in which my top plays are Penn Virginia Corp. (PVA) and Sanchez Energy Corp. (SN). Both have core acreage in the region, improving operating results and experienced management. Another favorite name of mine is Midstates Petroleum Co. Inc. (MPO). The company has assets in three solid plays and a management team with a long successful track record. Those are my favorite names at this time.