Top Energy Stock Pick from AlphaNorth’s Steven Palmer Powers Up 53% in Three Months

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Source: Blackbird Energy Inc.

Energy stock pick is a Montney play transitioning into a producer

SmallCapPower | November 4, 2016: Energy stocks have been volatile during the past three months but that’s not to say there hasn’t been any big winners in the space. AlphaNorth Asset Management’s Chief Investment Officer and founding partner Steven Palmer revealed an energy stock pick ‘gem’ during his SmallCapPower interview on August 5, 2016, which has surged more than 53% since.

Related: We’re Excited About This Energy Junior, Says AlphaNorth’s Steven Palmer

At the time, Mr. Palmer said he liked Blackbird Energy Inc. (CVE:BBI) due to the fact that the Company has a “substantial land position in one of the most economic areas in North America (Montney), and they are right in the sweet spot of the Montney.” He added that Blackbird is transitioning into a producer by year’s end, having already drilled three wells with more planned by the end of 2016.

On September 29, 2016, Blackbird Energy began construction of its infrastructure facility and pipeline gathering system after receiving Alberta Energy Regulatory approval, which the Company says “puts Blackbird on a clear trajectory to finalize its transition from a pre-production exploration company to a cash flowing Montney producer.”

Related: Blackbird Energy Inc. (CVE:BBI) Flies 57% Higher to Top the New-Look Ubika Energy 20

Ubika Research estimates that once the infrastructure facility is in place, Blackbird will be pumping approximately 3,150 barrels of oil equivalent (boe) per day, producing over US$57mm in revenue based on an oil price of US$50/barrel.

See more interviews with AlphaNorth’s Steven Palmer >>

Did you know? The AlphaNorth Resource Fund posted a YTD return of 203.6% as at October 31, 2016.  It is the best performing mutual fund across all asset classes in the GlobeFund database of over 19,000 funds.