I started a small position in Tenaz Energy last week at 3.57 cents. This is a long-term buy and hold. Tenaz Energy is an energy company that seeks to acquire and then optimize oil & gas assets. They currently have one cash flowing property in Alberta, and they recently did an acquisition in the Netherlands. Their focus is on Canada, Europe, and MENA (Middle East & North Africa).
This is my first oil & gas stock. I had initially heard about it through a Mining Stock Education video with Mark Zaret. I had watched it from trading around 1.8 cents. My main hesitancy was my lack of background in oil & gas. Zaret speaks highly of Tony Marino, the CEO who helped build Baytex Energy and Vermillion, both billion-dollar companies. Tenaz is his new project. It currently has a market cap of $109 million.
The company has been buying back shares and only has 27 million shares outstanding.
I’ve been impressed by Mr. Marino’s interviews and believe the company will likely continue to acquire and grow, hence the small position. I also see this an as opportunity for me to follow the O&G space and learn more about it.
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