With working capital to spare over the past 12 months, the TSX energy stocks on our list could be expanding their resource base again
SmallCapPower | October 31, 2016: Net Asset Value (NAV) is a term used almost exclusively in the mining/ resource extraction industry. It refers to the net present value of all resource based projects that a company has under its ownership and is the base of the total valuation for those companies. That being said, the TSX energy stocks on our list today were all able to increase their NAV by an average of 34% over the last fiscal year, and with positive net working capital over the past 12 months to handle the day to day operations, could be in a position to focus on raising capital for exploration purposes.
Freehold Royalties Ltd. (TSE:FRU) – $13.12Oil & Gas Exploration and Production
Freehold Royalties Ltd. is a Canada-based company engaged in the development and production of oil and natural gas, predominantly in western Canada. The Company’s primary focus is acquiring and managing oil and natural gas royalties. The Company’s total land holdings encompass approximately 3.7 million gross acres, over 90% of which are royalties. Of this, its mineral title lands (including royalty assumption lands), which it owns in perpetuity, cover approximately 750,000 acres. It also has interests in over 36,000 wells (of which over 34,000 are royalty wells, including over 18,000 unitized wells).
- Market Cap: $1,545.00(mm)
- Net Asset Value – Actual (FY0, Millions, CAD): $742.62
- YoY % Chg in Net Asset Value – Actual (FY0, CAD): 76.45%
- Working Capital (LTM, CAD, Millions): $6.17
Africa Oil Corp. (TSE:AOI) – $2.03
Oil & Gas Exploration and Production
Africa Oil Corp. (AOC) is a Canada-based oil and gas exploration and development company. The Company has oil and gas interest in Kenya and Ethiopia. It has made various oil discoveries in the South Lokichar Basin (Blocks 10BB and 13T) located in the Tertiary Rift trend in Kenya.
- Market Cap: $926.53(mm)
- Net Asset Value – Actual (FY0, Millions, CAD): $1,340.03
- YoY % Chg in Net Asset Value – Actual (FY0, CAD): 34.36%
- Working Capital (LTM, CAD, Millions): $348.10
Superior Plus Corp. (TSE:SPB) – $11.32
Oil & Gas Refining and Marketing
Superior Plus Corp. (Superior) is a Canada-based diversified business company that operates through three segments: Energy Services, Specialty Chemicals and Construction Products Distribution. Superior’s Energy Services segment provides distribution, wholesale procurement and related services in relation to propane, heating oil and other refined fuels under Canadian propane division and U.S. refined fuels division. Energy Services also provides fixed-price natural gas and electricity supply services under Superior Energy Management.
- Market Cap: $1,616.98(mm)
- Net Asset Value – Actual (FY0, Millions, CAD): $713.70
- YoY % Chg in Net Asset Value – Actual (FY0, CAD): 29.67%
- Working Capital (LTM, CAD, Millions): $137.38
Trinidad Drilling Ltd. (TSE:TDG) – $2.68
Oil & Gas Drilling
Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with operations in Canada and the United States. The Company operates through five segments, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate.
- Market Cap: $595.19(mm)
- Net Asset Value – Actual (FY0, Millions, CAD): $1,319.46
- YoY % Chg in Net Asset Value – Actual (FY0, CAD): 16.16%
- Working Capital (LTM, CAD, Millions): $61.64
