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Each year, the TSX Venture Exchange releases TSX Venture 50 list, reflecting the top performers across five sectors. Despite a tough year for resources — and for oil prices in particular — Calgary’s Ikkuma Resources still managed to rank first across all sectors.
Categories included on the list are diversified industries, clean technology, technology and life sciences, oil and gas and mining. The top 10 companies are selected from each group based on growth in market capitalization, trading volume, share price appreciation and analyst coverage.
There are nearly 2,000 companies listed on the TSX Venture Exchange, so companies were also screened through a number of filters before being considered for the TSX Venture 50. Companies had to have been listed on the exchange for over one year as of December 31, 2014 and had to have had a market cap of more than C$5 million and a closing share price of over C$0.25 by the same date. Companies also had to have had a share price of at least C$0.10 on December 31, 2013.
With that in mind, here’s a look at Ikkuma and a few others that made the list for the oil and gas industry, with their share prices as of close of day on Wednesday.
1. Ikkuma Resources — $0.65
Ikkuma is a junior oil and gas company focused on the Foothills region of Western Canada. Previously PanTerra Resource, Ikkuma changed its name in September 2014.
Most recently, the company reported its operational highlights for 2014, noting that it exceeded its guidance of 7,000 barrels of oil equivalent per day (boe/d) for the year by about 150 boe/d, also stating that it achieved significant growth for its land base. That said, the company is taking a more prudent approach for 2015 in light of the “current commodity price environment.” Though about 40 percent of its natural gas production is hedged at a $3/MMbtu floor through 2015, it’s also planning to reduce its drill program and budget for the year.
Ikkuma’s share price has gained about 30 percent over the past year.
2. Mapan Energy (TSXV:MPG) — $0.85
Also based in Alberta, Mapan Energy owns rights in two areas of the Deep Basin in Alberta and British Columbia. The company was incorporated in early 2014, and graduated to tier 1 of the TSX Venture Exchange in October. The company’s share price has lost about 60 percent, or $1.32, over the past year.
3. ArPetrol (TSXV:RPT) — $0.37
ArPetrol is focused on Argentina, where it owns and operates a gas processing facility. The company is also engaged in oil and natural gas exploration, development and production. The most recent update from the company came in November, when it released its third-quarter financial results, noting that it “continued its progress towards a stable revenue generating company” during the period. It cited new gas processing contracts as providing “significant increase in processing revenue.”
4. Pine Cliff Energy (TSXV:PNE) — $1.35
Pine Cliff’s core projects include its Carrot Creek/Edson assets in the Canadian Sedimentary Basin and the Southern assets in Southeastern Alberta. However, it also holds a number of other natural gas assets in Alberta and Southern Saskatchewan, and they feature minor production. Despite falling oil prices, Pine Cliff has recorded a modest increase in share price over the past year, gaining roughly 5.5 percent.
5. Stonehaven Exploration (TSXV:SE) — $1.40
Stonehaven Exploration has interests in oil and natural gas projects in Fir and Bigstone, Alberta. The company changed its name from Donnybrook Energy in October. Its share price has lost roughly 22 percent so far in 2015.
6. Quattro Exploration and Production (TSXV:QXP) — $0.35
Quattro Exploration was up nearly 10 percent at close of day on Wednesday and has gained about 160 percent in the last year. The Calgary-based company holds an interest in operations in Saskatchewan as well as in Alberta and British Columbia, but it’s also planning to pursue exploration efforts in Central and South America.
7. Tuscany Energy (TSXV:TUS) — $0.22
Currently, Tuscany holds oil and gas leases on prospects in Alberta and Saskatchewan, and is mainly focused on development wells at its Evesham and Macklin pools in Western Saskatchewan. On January 6, 2015, Tuscany reported reaching 1,000 boe/d of production in December. Over the past year, the company’s share price has gained about 20 percent.
8. Toro Oil & Gas (TSXV:TOO) — $0.67
Toro is focused on projects in Central Alberta and Southern Saskatchewan — specifically light oil and liquids-rich natural gas reserves. The company acquired the Alberta Viking light crude oil-producing property for $25 million in December and closed a $15-million bought-deal financing on January 8.
9. Kicking Horse Energy (TSXV:KCK) — $3.25
Kicking Horse has gained 3.5 percent so far in 2015 and is up just under 5 percent over the past year, which is no small feat given the current price environment. The company owns land and producing assets in the Deep Basin, including a condensate-rich natural gas project that “boasts greater volumes of condensate per mmcf of gas than most other areas of Montney production.”
10. Taipan Resources (TSXV:TPN) — $0.11
Rounding out the top 10 is Taipan Resources. Like several others on the list, Taipan has not been immune to oil’s drastic fall over the past year — its share price has dropped approximately 56 percent, or 14 cents. The Africa-focused exploration company recently announced the start of drilling at its Badada-1 well in Kenya, and is one of few companies to have an onshore well in the country.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
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