DELPHI ENERGY $0.72 - Toronto symbol DEE

DELPHI ENERGY $0.72 (Toronto symbol DEE; TSINetwork Rating: Speculative)(403- 265-6171; www.delphienergy.ca; Shares outstanding: 155.5 million; Market cap: $110.4 million; No dividends paid) develops, produces and explores for oil and natural gas. About 70% of its output is gas; the remaining 30% is oil.

In the three months ended September 30, 2015, Delphi’s production fell 16.6%, to 7,888 barrels of oil equivalent a day from 9,461 a year earlier, after the company sold some fields. The lower output and a 31.4% average decline in oil and gas prices cut cash flow per share to $0.06 from $0.09.

The company will need improved oil and gas prices to move significantly higher, but its long-term outlook is positive.

Delphi Energy is a buy for aggressive investors.

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