Sling Sporting @TweetrBell Hosts Yoho, Vermillion and Lumina Copper on Commodities Wednesday

Anchor Andrew Bell sported an arm sling on his Commodities program on BNN television earlier, citing a cycling accident. The show must go on, however and three CEOs joined Bell this morning to tell their stories.

Brian McLachlan, President and CEO of Yoho Resources (TSXV:YO), was the first guest on the program. Yoho are developing oil and gas assets in the Duvernay Formation in Alberta, as well as the Montenay Formation in BC. The company is producing approx. 2000 bopd equivalent currently, and they think they can grow production by 20% next year, which would increase cash flow by 35%, without external financing. The Duvernay assets are so far the most profitable, with netbacks in the order of $35 per boe including gas, because of the condensate, which is receiving a premium. McLachlan explained his company starting buying land in the Duvernay at $20k a section, now the going rate is $3.5 million a section, since they have been joined by some of the largest names in the industry. McLachlan also pointed out the trouble with joint ventures, saying they restrict outside suitors from considering a company, with the exception of the joint venture partner, essentially tainting the lands. Yoho is focused on growth currently, with no plans to pay a dividend in the near future.

Lorenzo Donadeo, P.Eng, President and CEO of Vermillion Energy (TSV:VET) then joined the program. Vermillion is a diversified intermediate oil producer which pays a strong dividend ($.20 monthly). The company sees large opportunity in the natural gas business in Europe, noting that a shift away from nuclear energy and coal would play into the hands of oil and gas producers there, where gas prices are north of $11 per mcf, compared to $3.50-$4 in North America. LNG imports are the only alternative supply, which cost $13.50 per mcf, and would divert supply from Asia, which could theoretically push LNG prices even higher. Vermillion are currently the largest domestic oil and gas producer in France, and they also recently invested $170m for 25% of 4 natural gas plays in Northwest Germany. Donadeo says the German's are precise, formal people to work with, but that they welcome foreign investment. The company is remaining focused on their dividend, with $.20 monthly distributions in place, reflecting a third dividend increase in six years. Donadeo is optimistic further dividend increases are possible in the future, and points out that his company has far outperformed the peer group in delivering returns to shareholders since the company was formed 20 years ago.

David Strang, CEO of Lumina Copper (TSXV:LCC) then joined Mr. Bell to conclude the thirty minute program. Lumina owns the Taca Taca copper-gold-molybdenum deposit in the Salta province of Northern Argentina, which is the 36th largest copper deposit ever discovered, and the largest currently available for sale in the hands of a junior company. Taca Taca could be the largest mine ever built in Argentina. Strang hopes to sell the deposit to a significant copper producer. He sees today's Newmont/Teck/Blackstone possible bid of the Las Bambas mine in Peru a positive signal for the junior resource industry, saying that producers have been singularly focused on profitability recently, ignoring M&A. Now Strang feels companies are beginning to get comfortable with their existing operations, and are beginning to consider future acquisitions. Strang is also optimistic about the political situation in Argentina becoming more friendly to foreign investment. He cited the elections of Oct. 27 which favored more market based, centrist candidates. Strang believes the people of Argentina aren't happy with the current policies, and is comfortable with the presidential front runners for the 2015 election being more friendly to business, so he definitely sees a light at the end of the tunnel.

Andrew Bell's Commodities runs on BNN Television Monday-Friday at 11:30am Eastern, 8:30am Pacific time. Follow Andrew Bell on Twitter @TweetrBell.

CEO Editor

tommy@pacwebco.com

CEO Editor

tommy@pacwebco.com

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