TPLM

Triangle Petroleum Corporation

Energy, Event Driven/Special Sit


Presented:09/17/2013
Price:$9.09
Cap:$0.78B
Current Price:$0.00
Cap:$0.00B

Presented

Date09/17/2013
Price$9.09
Market Cap$0.78B
Ent Value$0.96B
P/E Ratio7.44x
Book Value$6.58
Div YieldN/A
Shares O/S85.45M
Ave Daily Vol1,060,000
Short Int2.87%

Current

Price$0.00
Market Cap$0.00B
Triangle Petroleum Corporation engages in the acquisition, exploration, development, and production of unconventional shale oil and natural gas resources in the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana. As of January 31, 2013, the company held leasehold interests in approximately 86,000 net acres in McKenzie and Williams Counties of North Dakota, and Roosevelt and Sheridan Counties of Montana. It also holds an 87% working interest in approximately 412,924 net acres of oil and natural gas leases in the Windsor Sub-Basin of the Maritimes Basin located in Nova Scotia, Canada. In addition, the company offers hydraulic pressure pumping and complementary well completion services to oil and natural gas exploration and production companies in the Williston Basin of North Dakota and Montana. The company was formerly known as Peloton Resources Inc. and changed its name to Triangle Petroleum Corporation in May 2005. Triangle Petroleum Corporation was incorporated in 2003 and is headquartered in Denver, Colorado.

Highlights

The presenter is bullish on the outlook for Triangle Petroleum (TPLM) and is long the stock from ~$6.00. He described how Palo Alto Investors got involved with the company in 2009 and helped turn its focus from the Maritimes Basin in Nova Scotia (a gas play) to North American Shale and the Bakken in 2010. The activist fund’s actions have added enormous value to-date, and Dr. Peter Hill’s presence (former BP executive) on the board of directors over the past few years has been extremely valuable as well.

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Idea Discussion

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