Oil & Gas - Exploration & Production Recommendations

Royal Dutch Shell Plc

Trefis (1/28/15) "We expect RDS' downstream margins to get a significant boost in Q4/14."

Rock Energy Inc.

Nav Malik, Octagon Capital Corporation (1/28/15) "RE's Q4/14 production was 13% higher than its Q3/14 production."

Hemisphere Energy Corp.

Michael Charlton, Industrial Alliance Securities (1/28/15) "HME is well positioned to ramp up quickly when oil prices improve."

Rock Energy Inc.

Chad Ellison, Dundee Capital Markets (1/27/15) "RE's Q4/14 production averaged 5,350 boepd, ahead of our estimate."

Ken Lin, Paradigm Capital (1/27/15) "RE merits serious consideration in a portfolio; we maintain our Buy."

Darrell Bishop, Haywood Securities (1/27/15) "We see RE as a strong candidate to weather the collapse in oil prices."

Thomas Matthews, Alta Corp Capital (1/27/15) "We believe RE's deferral of its highest productivity locations will pay off."

Madalena Energy Inc.

Bill Newman, Mackie Research Capital (1/26/15) "Medanito crude oil price should benefit Argentinian producers such as MVN."

Royal Dutch Shell Plc

Jefferson Research (1/23/15) "The balance sheet shows RDS' ability to pay its bills and fund growth."

Jefferson Research (1/21/15) "RDS is showing strong cash flow quality, balance sheet quality and operating efficiency."

Madalena Energy Inc.

Etienne Moshevich, Alphastox.com (1/14/15) "MVN is well positioned to weather the storm and come out the other side with strength."

Blackbird Energy Inc.

Ryan Mooney, National Bank Financial (1/14/15) "BBI has $45M cash and no debt, making it less sensitive to commodity price volatility."

Pan Orient Energy Corp.

Chen Lin, What Is Chen Buying? What Is Chen Selling? (1/9/15) "POE and its partners are set to drill very important wells in Thailand and Indonesia."

Torchlight Energy Resources Inc.

The Energy Report with Rich Masterson (1/8/15) "TRCH's Orogrande offers great potential for reward."

Madalena Energy Inc.

Geoff Ready, Dundee Capital Markets (1/8/15) "MVN continues to receive a much higher price for its production relative to the rest of our coverage universe."

Terra Nova Energy Ltd.

Charlotte McLeod, Resource Investing News (1/5/15) "TGC's share price rose steadily throughout 2014."

Royal Dutch Shell Plc

Jefferson Research (1/2/15) "RDS is showing strong cash flow quality, balance sheet quality and operating efficiency."

Madalena Energy Inc.

Geoff Ready, Dundee Capital Markets (12/16/14) "As of Q3/14, MVN had positive working capital of $18M."

Darrell Bishop, Haywood Securities (12/16/14) "MVN maintains a strong financial position."

Michael Charlton, Industrial Alliance Securities (12/15/14) "Regulated prices in Argentina provide stability for MVN."

Royal Dutch Shell Plc

Pim Keulen, Seeking Alpha (12/15/14) "RDS is at an attractive entry point for income investors."

Pan Orient Energy Corp.

The Energy Report Interview with Chen Lin (12/11/14) "POE is my favorite energy play because of its very strong balance sheet."

Mart Resources Inc.

The Energy Report Interview with Chen Lin (12/11/14) "MMT has been my home run of the past few years."

Cub Energy Inc.

The Energy Report Interview with Chen Lin (12/11/14) "KUB is getting good results from West Ukraine."

Madalena Energy Inc.

Bill Newman, Mackie Research Capital (12/9/14) "We expect MVN to demonstrate reasonable production and cash flow growth in 2015."

WesternZagros Resources Ltd.

Gerry Donnelly, FirstEnergy Capital (12/8/14) "We upgrade our recommendation for WZR from Market Perform to Outperform."

ENSERVCO Corp.

The Energy Report Interview with Philip Juskowicz (12/4/14) "ENSV has done a good job gaining market share in existing markets, making small acquisitions and growing organically into new markets."

Madalena Energy Inc.

Etienne Moshevich, Alphastox.com (12/2/14) "MVN is a no-brainer to keep on your radar screens at the moment."

Pan Orient Energy Corp.

Bill Newman, Mackie Research Capital (12/1/14) "POE maintains a strong working capital position of $43.6M."

New Zealand Energy Corp.

David Buma, M Partners (12/1/14) "We expect NZ's near-term focus to be on reactivations and up-hole completions."

Royal Dutch Shell Plc

Fadel Gheit, Oppenheimer & Co. (11/28/14) "RDS has made good progress on restructuring its North American resources."

Madalena Energy Inc.

Darrell Bishop, Haywood Securities (11/27/14) "MVN maintains a strong financial position at the end of Q3/14."

Michael Charlton, Industrial Alliance Securities (11/27/14) "Success in any one of MVN's six high-impact plays could have substantial impact."

Bill Newman, Mackie Research Capital (11/27/14) "MVN can fund exploration and development from cash flow and available credit."

Bill Newman, Mackie Research Capital (11/26/14) "MVN maintains a relatively strong financial position."

Geoff Ready, Dundee Capital Markets (11/26/14) "MVN's Q3/14 production of 4,707 boepd was in line with our estimate."

ENSERVCO Corp.

The Energy Report Interview with Rudolf Hokanson (11/25/14) "ENSV is very good at what it does; the company is building a good reputation well by well."

Blackbird Energy Inc.

David Ricciardi, Jennings Capital (11/21/14) "BBI has a working interest and operatorship in two potentially game-changing plays."

Hemisphere Energy Corp.

Michael Charlton, Industrial Alliance Securities (11/19/14) "HME will be in a solid position to grow production, cash flow and reserves organically in 2015."

Manitok Energy Inc.

Brian Bagnell, Macquarie Capital Markets (11/17/14) "Results from MEI's drill program at entice have been impressive."

Shailender Randhawa, RBC Capital Markets (11/17/14) "We maintain our Outperform rating on MEI."

Chad Ellison, Dundee Capital Markets (11/17/14) "MEI's Q3/14 is in line, and its production guidance reaffirmed."

Caza Oil & Gas Inc.

The Energy Report with Angelos Damaskos (11/13/14) "CAZ's Broadcaster is a low-risk operation with the potential to greatly increase production."

Pan Orient Energy Corp.

Bill Newman, Mackie Research Capital (11/12/14) "POE continues to trade at a discount."

Manitok Energy Inc.

Daniel Choi, Clarus Securities (11/11/14) "Fourth horizontal well at Entice confirms 6–8 additional locations."

Enterprise Group Inc.

Steven Salz, M Partners (11/11/14) "E is an ideal alternative play with exposure to Western Canada and more diversity than peers."

Pan Orient Energy Corp.

Mark Heim, Jennings Capital (11/11/14) "We reiterate our Buy recommendation on POE and have modestly increased our target price."

Rock Energy Inc.

David Ricciardi, Jennings Capital (11/10/14)

Pan Orient Energy Corp.

The Energy Report Interview with Bob Moriarty (11/6/14) "POE is a tripleheader; it has projects in Thailand, Indonesia and Canada."

Torchlight Energy Resources Inc.

The Energy Report Interview with Bob Moriarty (11/6/14) "TRCH is going to have a lot of money when the cost of projects and the cost of drilling come down."

Rock Energy Inc.

Thomas Matthews, Alta Corp Capital (11/6/14)

Ken Lin, Paradigm Capital (11/6/14)

Nav Malik, Octagon Capital Corporation (11/6/14)

Blackbird Energy Inc.

Brent Legate, National Bank Financial (11/6/14) "BBI's opportunistic land acquisition saved in ~$26M in land acquisition costs."

New Zealand Energy Corp.

David Buma, M Partners (11/5/14) "At Waihapa-2, NZ successfully completed a workover."

Pan Orient Energy Corp.

Bill Newman, Mackie Research Capital (11/5/14) "POE's Thailand farmout is the first in a series of value-creating catalysts."

Mark Heim, Jennings Capital (11/5/14) "POE sells a 50% interest in Thailand and makes progress on two Indonesian deals."

Madalena Energy Inc.

Michael Charlton, Industrial Alliance Securities (11/5/14) "MVN's Nordegg discovery should be instrumental in helping it attract a JV partner."

Pan Orient Energy Corp.

Chen Lin, What Is Chen Buying? What Is Chen Selling? (11/5/14) "POE's assets have huge upside and limited downside."

Madalena Energy Inc.

Geoff Ready, Dundee Capital Markets (11/4/14) "MVN will realize value in Argentina via a JV or sale of the Vaca Muerta shale assets."

Bill Newman, Mackie Research Capital (11/4/14) "MVN's cost to drill, case and stimulate the Nordegg discovery well was only CA$2.3M."

Royal Dutch Shell Plc

Price Point, Seeking Alpha (11/4/14) "RDS' multiyear improvement potential, strong cash flow and attractive valuation keep me bullish."

Blackbird Energy Inc.

Ryan Mooney, National Bank Financial (11/3/14) "We believe BBI has considerable upside potential."

Brent Legate, National Bank Financial (10/31/14) "BBI's recent financing shows investors' interest in Elmworth and management's ability to attract capital."

New Zealand Energy Corp.

M Partners (10/20/14) "NZ secured a $4.5M credit facility with JV partner New Dawn Energy."

Pan Orient Energy Corp.

Chen Lin, What Is Chen Buying? What Is Chen Selling? (10/16/14) "POE has an extremely strong balance sheet and huge upside."

Mart Resources Inc.

Chen Lin, What Is Chen Buying? What Is Chen Selling? (10/16/14) "Once the new pipeline is functioning, MMT will generate huge cash flow."

Cub Energy Inc.

Christopher Brown, Canaccord Genuity (10/10/14) "KUB's average Q3/14 production was 16% higher than that of Q2/14."

Hemisphere Energy Corp.

Resource World (10/10/14) "HME's next phase of drilling is underway at Atlee Buffalo and Jenner."

Manitok Energy Inc.

Chad Ellison, Dundee Capital Markets (10/9/14) "We are already beginning to see cost improvement at MEI's Entice."

Rock Energy Inc.

Chad Ellison, Dundee Capital Markets (10/7/14) "RE's board appointment adds operational expertise."

New Zealand Energy Corp.

David Buma, M Partners (10/3/14) "NZ secured a $4.5M credit facility to advance the TWN development program."

Pan Orient Energy Corp.

Jay Taylor, Gold, Energy & Tech Stocks (10/3/14) "POE appears poised for a moon shot; the upside for it is enormous."

Manitok Energy Inc.

Shailender Randhawa, RBC Capital Markets (10/1/14) "We remain positive on MEI shares; news flow is slated to pick up in H2/14."

New Zealand Energy Corp.

David Buma, M Partners (9/25/14) "We view NZ's additional funding positively."

Royal Dutch Shell Plc

theScreener (9/24/14) "RDS is fundamentally undervalued."

Hemisphere Energy Corp.

Etienne Moshevich, Alphastox.com (9/23/14) "In 11 weeks, HME drilled and brought onstream five horizontal wells."

Pan Orient Energy Corp.

Bill Newman, Mackie Research Capital (9/23/14) "We see limited downside for POE and multiple chances for significant upside before year-end."

Madalena Energy Inc.

Bill Newman, Mackie Research Capital (9/23/14) "MVN's highly experienced new board members provide expertise in operating, growing and monetizing O&G companies."

Hemisphere Energy Corp.

Canaccord Genuity's Morning Coffee (9/23/14) "These results confirm HME's growth and operational execution."