Corridor Resources: The Numbers

Here is what happened since we know that Hydrocarbons Anticosti LP is negotiating with the government.

CDH StockCharts.com April 12

Source: StockCharts.com

Corridor’s (CDH) stock went from C$0.42 to close at C$0.45/share at 5.5X average volume for total upside of C$2.7M.

PEA StockCharts.com April 12

Source: StockCharts.com

Petrolia’s (PEA) stock went from C$0.14 to close at C$0.18/share at 7.0X average volume for total upside of C$4.3M.

These gains have evaporated since.

Disclosure: I am long CDH. Not for republication on Seeking Alpha.

Must-Read: Saudi Arabia, US Crude Oil Exports And Heavy Oil

Exclusive: Saudi Arabia wants oil prices to rise to around $60 in 2017Reuters

US crude exports surge to a recordBloomberg Markets

U.S. gasoline demand hits record number last yearReuters

U.S. crude oil imports from Saudi Arabia and Iraq combined recently approached five-year high, but are expected to declineEIA

After OPEC cuts heavy oil, China teapot refiners pull US supply to AsiaReuters

Enbridge CEO downplays need for competing pipelines till at least 2025Financial Post

Not for republication on Seeking Alpha.

Portfolio Update: Aggressive Moves To Start 2017

Here are my trades to start the year:

  • I added to my position in Amaya (AYA). Indeed, bad names will stop appearing in bad actor clause negotiations now that both David Baazov and Daniel Sebag are gone. Plus Amaya’s operations are coming out as very strong.
  • I bought back shares in Corridor Resources (CDH), as you know. It’s now or never for Corridor to move west and grab assets on the cheap before oil heads substantially higher. I need to go long before reading about the acquisition in a press release.
  • I added to my position in MEG Energy (MEG) after the company announced a major refinancing plan.
  • I added to my position in Painted Pony Petroleum (PPY). The company is still undervalued despite being up 60% since I bought it nine months ago.

I also went long lithium by buying all the junior exploration companies operating in Quebec: Critical Elements (CRE), Nemaska Lithium (NMX) and Natan Resources (NRL). I’ll let you know shortly how I narrowed it down to those three companies.

Disclosure: I am long AYA, CDH, CRE, MEG, NMX, NRL, PPY. Not for republication on Seeking Alpha.

Corridor Resources: Unloved, Unknown, With 2 Golden Options

  • Corridor’s natural gas business in New Brunswick will be profitable, despite the moratorium.
  • The company has a pristine balance sheet, with no debt and over $23M in cash.
  • It has a quick ratio of over 29, which indicates absolutely no financial pressure in the short term.
  • The market is completely ignoring the tremendous Old Harry and Anticosti Island prospects.

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