New Risk • Aug 05
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 314% Dividend yield: 1.6% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (314% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.6% net profit margin). Reported Earnings • Jul 28
Second quarter 2026 earnings released: EPS: CA$0.43 (vs CA$0.17 in 2Q 2025) Second quarter 2026 results: EPS: CA$0.43 (up from CA$0.17 in 2Q 2025). Revenue: CA$494.0m (up 43% from 2Q 2025). Net income: CA$205.7m (up 139% from 2Q 2025). Profit margin: 42% (up from 25% in 2Q 2025). Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Announcement • Jul 28
Tamarack Valley Energy Ltd. Appoints Scott Shimek Is Promoted to Chief Operating Officer Tamarack Valley Energy Ltd. announced that Mr. Scott Shimek is promoted to Chief Operating Officer. Since joining the Company in 2021, Mr. Shimek has been a key contributor to the operational execution, growth and significant success experienced across the Company's asset base, most notably the prolific Clearwater play. Mr. Shimek has more than 20 years of oil and gas experience, integrating his
diverse technical knowledge into his leadership role at Tamarack. Scott holds a Bachelor of Science in Mechanical Engineering from the University of Alberta and is a member of the Association of Professional Engineers and Geoscientists of Alberta. The Company looks forward to ongoing success under his continued leadership moving forward. Recent Insider Transactions • Jun 29
Key Executive recently sold €780k worth of stock On the 23rd of June, John Rooney sold around 100k shares on-market at roughly €7.80 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was John's only on-market trade for the last 12 months. Announcement • Jun 17
An undisclosed buyer completed the acquisition of Charlie Lake assets from Tamarack Valley Energy Ltd. (TSX : TVE). An undisclosed buyer entered into a definitive purchase and sale agreement to acquire Charlie Lake assets from Tamarack Valley Energy Ltd. (TSX : TVE) for approximately CAD 800 million on April 1, 2026. Upon completion of the Transaction, Tamarack will become a pure play Clearwater producer. The transaction will be financed through revolving credit facility.
Tamarack’s go-forward Clearwater focused strategy is expected to drive meaningful accretion of debt-adjusted free funds flow per share in its five-year plan by enhancing corporate profitability through higher margin barrels, lower corporate decline rates and lower reinvestment requirements.
The net proceeds from the divestiture will initially be directed to eliminate Tamarack’s net debt.
The transaction is expected to close near the end of the second quarter, subject to customary closing conditions, regulatory approvals and the Competition Act Approval shall have been received.
National Bank of Canada Financial Markets and RBC Capital Markets, LLC acted as a financial advisor and Sony Gill of Stikeman Elliott, LLP acted as a legal advisor to Tamarack Valley Energy Ltd.
An undisclosed buyer completed the acquisition of Charlie Lake assets from Tamarack Valley Energy Ltd. (TSX : TVE) on June 16, 2026. Announcement • Jun 16
Tamarack Valley Energy Ltd. Revises Production Guidance for the Year Ending December 31, 2026 Tamarack Valley Energy Ltd. revised production guidance for the year ending December 31, 2026. For the year, the company revises annual average production of 61,500 boe/d - 63,000 boe/d compared to 62,000 boe/d - 64,000 boe/d compared to previous guidance. Upcoming Dividend • Jun 08
Upcoming dividend of CA$0.04 per share Eligible shareholders must have bought the stock before 15 June 2026. Payment date: 30 June 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.5%). Recent Insider Transactions • Jun 07
Independent Director recently bought €638k worth of stock On the 3rd of June, Rene Amirault bought around 79k shares on-market at roughly €8.12 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €3.1m more in shares than they have sold in the last 12 months. Announcement • May 29
An undisclosed buyer entered into a definitive purchase and sale agreement to acquire Charlie Lake assets from Tamarack Valley Energy Ltd. (TSX : TVE) for CAD 804 million. An undisclosed buyer entered into a definitive purchase and sale agreement to acquire Charlie Lake assets from Tamarack Valley Energy Ltd. (TSX : TVE) for CAD 804 million on April 1, 2026. Upon completion of the Transaction, Tamarack will become a pure play Clearwater producer. The transaction will be financed through revolving credit facility.
Tamarack’s go-forward Clearwater focused strategy is expected to drive meaningful accretion of debt-adjusted free funds flow per share in its five-year plan by enhancing corporate profitability through higher margin barrels, lower corporate decline rates and lower reinvestment requirements.
The net proceeds from the divestiture will initially be directed to eliminate Tamarack’s net debt.
The transaction is expected to close near the end of the second quarter, subject to customary closing conditions and regulatory approvals.
National Bank of Canada Financial Markets and RBC Capital Markets, LLC acted as a financial advisor and Stikeman Elliott, LLP acted as a legal advisor to Tamarack Valley Energy Ltd. Announcement • Dec 16
Tamarack Valley Energy Ltd. Announces Monthly Dividend Declaration for December 2025, Payable on January 15, 2026 Tamarack Valley Energy Ltd. board of Directors has declared a monthly cash dividend on its common shares of CAD 0.013333 per share in accordance with the Company's dividend policy. The dividend will be payable on January 15, 2026, to shareholders of record at the close of business on December 31, 2025. This monthly cash dividend is designated as an eligible dividend for Canadian income tax purposes. Announcement • Oct 16
An undisclosed private company completed the acquisition of Non core producing assets of Tamarack Valley Energy Ltd. (TSX:TVE). An undisclosed private company entered into a definitive agreement to acquire Non core producing assets of Tamarack Valley Energy Ltd. (TSX:TVE) for approximately CAD 180 million on September 18, 2025. The consideration includes, CAD 112 million before closing adjustments, and the assumption of undiscounted asset retirement obligations of CAD 63 million.
The transaction is expected to close in October 2025, subject to customary closing considerations. Proceeds from the divestiture will initially be utilized to reduce net debt providing the Tamarack with future optionality to increase shareholder returns or accelerate ongoing development in the Clearwater, including expanded waterflood initiatives. Tamarack expects the East Asset Divestiture will be accretive to the Company’s five-year plan, reinforced by lower net production expenses and higher margins on a per boe basis and lower near-term asset retirement obligation expenditures.
National Bank Financial, Inc. acted as financial advisor and Stikeman Elliott LLP acted as legal advisor for Tamarack Valley Energy Ltd.
An undisclosed private company completed the acquisition of Non core producing assets of Tamarack Valley Energy Ltd. (TSX:TVE) on October 15, 2025. Announcement • Oct 15
Tamarack Valley Energy Ltd. Announces Monthly Cash Dividend Declaration for October 2025, Payable on November 14, 2025 Tamarack's Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on November 14, 2025, to sharehcolders of record at the close of business on October 31, 2025. Announcement • Sep 19
An undisclosed private company entered into a definitive agreement to acquire Non core producing assets of Tamarack Valley Energy Ltd. (TSX:TVE) for approximately CAD 180 million. An undisclosed private company entered into a definitive agreement to acquire Non core producing assets of Tamarack Valley Energy Ltd. (TSX:TVE) for approximately CAD 180 million on September 18, 2025. The consideration includes, CAD 112 million before closing adjustments, and the assumption of undiscounted asset retirement obligations of CAD 63 million.
The transaction is expected to close in October 2025, subject to customary closing considerations. Proceeds from the divestiture will initially be utilized to reduce net debt providing the Tamarack with future optionality to increase shareholder returns or accelerate ongoing development in the Clearwater, including expanded waterflood initiatives. Tamarack expects the East Asset Divestiture will be accretive to the Company’s five-year plan, reinforced by lower net production expenses and higher margins on a per boe basis and lower near-term asset retirement obligation expenditures.
National Bank Financial, Inc. acted as financial advisor and Stikeman Elliott LLP acted as legal advisor for Tamarack Valley Energy Ltd. Announcement • Sep 18
Tamarack Valley Energy Ltd. Reaffirms Production Guidance for the Year 2025 and Provides Production Guidance for the Fourth Quarter of 2025 Tamarack Valley Energy Ltd. reaffirmed production guidance for the year 2025 and provided production guidance for the fourth quarter of 2025. The company's 2025 guidance remains mostly unchanged for the full year, primarily due to outperformance from the first half of 2025 development programs, Clearwater waterflood response and a tuck-in acquisition of additional Clearwater assets early in the third quarter. Full year production outlook remains at 67,000 to 69,000 boe per day with fourth quarter production expected to be 66,500 to 67,500 boe per day. Announcement • Sep 16
Tamarack Valley Energy Ltd. Announces Monthly Dividend Declaration for September 2025, Payable on October 15, 2025 Tamarack Valley Energy Ltd. announced that its Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on October 15, 2025, to shareholders of record at the close of business on September 30, 2025. Announcement • Aug 16
Tamarack Valley Energy Ltd. Announces Monthly Dividend Declaration, Payable on September 15, 2025 Tamarack Valley Energy Ltd.'s Board of Directors has declared a monthly cash dividend on its common shares ("Common Shares") of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on September 15, 2025, to shareholders of record at the close of business on August 29, 2025. This monthly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Jul 15
Tamarack Valley Energy Ltd. Announces Monthly Dividend Declaration, Payable on August 15, 2025 The Board of Directors of Tamarack Valley Energy Ltd. has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on August 15, 2025, to shareholders of record at the close of business on July 31, 2025. Announcement • Jun 13
Tamarack Valley Energy Ltd. Announces Monthly Dividend Declaration, Payable on July 15, 2025 Tamarack Valley Energy Ltd. Board of Directors has declared a monthly cash dividend on its common shares of $0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on July 15, 2025, to shareholders of record at the close of business on June 30, 2025. This monthly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • May 16
Tamarack Valley Energy Announces Monthly Dividend Declaration, Payable on June 16, 2025 Tamarack Valley Energy Ltd.'s Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on June 16, 2025, to shareholders of record at the close of business on May 30, 2025. This monthly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • May 07
Tamarack Valley Energy Ltd. Maintains Production Guidance for the Fiscal Year 2025 Tamarack Valley Energy Ltd. maintained production guidance for the fiscal year 2025. for the year, the company expects Average Production of 65,000 boe/d to 67,000 boe/d. Announcement • Apr 15
Tamarack Valley Energy Ltd. Declares Monthly Cash Dividend, Payable on May 15, 2025 Tamarack Valley Energy Ltd.'s Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on May 15, 2025, to shareholders of record at the close of business on April 30, 2025. This monthly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Mar 14
Tamarack Valley Energy Ltd. Declares a Monthly Cash Dividend, Payable on April 15, 2025 The Board of Directors of Tamarack Valley Energy Ltd. has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on April 15, 2025, to shareholders of record at the close of business on March 31, 2025. This monthly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Feb 26
Tamarack Valley Energy Ltd., Annual General Meeting, May 07, 2025 Tamarack Valley Energy Ltd., Annual General Meeting, May 07, 2025. Announcement • Feb 14
Tamarack Valley Energy Ltd. Declares Monthly Cash Dividend, Payable on March 14, 2025 The Board of Directors of Tamarack Valley Energy Ltd. has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on March 14, 2025, to shareholders of record at the close of business on February 28, 2025. This monthly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Jan 14
Tamarack Valley Energy Announces Monthly Cash Dividend, Payable on February 14, 2025 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on February 14, 2025, to shareholders of record at the close of business on January 31, 2024. Announcement • Jan 11
Tamarack Valley Energy Ltd. to Report Q4, 2024 Results on Feb 25, 2025 Tamarack Valley Energy Ltd. announced that they will report Q4, 2024 results Pre-Market on Feb 25, 2025 Announcement • Dec 16
Tamarack Valley Energy Declares Monthly Dividend, Payable on January 15, 2025 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on January 15, 2025, to shareholders of record at the close of business on December 30, 2024. Announcement • Dec 04
Tamarack Valley Energy Ltd. Provides Production Guidance for the Fiscal Year 2025 Tamarack Valley Energy Ltd. provided production guidance for the fiscal year 2025. for the year, the company expects Annual Average Production of 65,000 boe/d to 67,000 boe/d. Announcement • Nov 15
Tamarack Valley Energy Ltd. Announces Monthly Cash Dividend, Payable on December 16, 2024 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.01275 per share in accordance with the Company's dividend policy. The dividend will be payable on December 16, 2024, to shareholders of record at the close of business on November 29, 2024. Buy Or Sell Opportunity • Nov 14
Now 20% undervalued Over the last 90 days, the stock has risen 9.2% to €2.86. The fair value is estimated to be €3.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has declined by 54%. Revenue is forecast to decline by 5.0% in 2 years. Earnings are forecast to decline by 27% in the next 2 years. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: CA$0.17 (vs CA$0.016 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.17 (up from CA$0.016 in 3Q 2023). Revenue: CA$374.9m (down 11% from 3Q 2023). Net income: CA$93.7m (up CA$85.1m from 3Q 2023). Profit margin: 25% (up from 2.0% in 3Q 2023). Revenue is forecast to decline by 2.7% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Declared Dividend • Oct 21
Dividend of CA$0.013 announced Shareholders will receive a dividend of CA$0.013. Ex-date: 31st October 2024 Payment date: 15th November 2024 Dividend yield will be 4.0%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 15% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 93% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 15
Tamarack Valley Energy Announces Declaration of Monthly Dividend, Payable on November 15, 2024 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on November 15, 2024, to shareholders of record at the close of business on October 31, 2024. Declared Dividend • Sep 23
Dividend of CA$0.013 announced Shareholders will receive a dividend of CA$0.013. Ex-date: 27th September 2024 Payment date: 15th October 2024 Dividend yield will be 3.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 15% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 4.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Declared Dividend • Aug 19
Dividend of CA$0.013 announced Shareholders will receive a dividend of CA$0.013. Ex-date: 30th August 2024 Payment date: 16th September 2024 Dividend yield will be 4.0%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 15% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 4.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 15
Tamarack Valley Energy Ltd. Declares Monthly Dividend, Payable on September 16, 2024 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on September 16, 2024, to shareholders of record at the close of business on August 30, 2024. Recent Insider Transactions • Aug 08
Director recently bought €337k worth of stock On the 7th of August, Rene Amirault bought around 135k shares on-market at roughly €2.50 per share. This transaction increased Rene's direct individual holding by 2x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €985k. Insiders have collectively bought €2.8m more in shares than they have sold in the last 12 months. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: CA$0.17 (vs CA$0.046 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.17 (up from CA$0.046 in 2Q 2023). Revenue: CA$400.4m (up 25% from 2Q 2023). Net income: CA$94.9m (up 269% from 2Q 2023). Profit margin: 24% (up from 8.0% in 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 37% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Aug 01
Tamarack Valley Energy Ltd. Reiterates Production Guidance for the Year 2024 Tamarack Valley Energy Ltd. reiterated production guidance for the year 2024. For the year, the company reiterates prior annual production guidance of 61,000 - 63,000 boe/d. Declared Dividend • Jul 22
Dividend of CA$0.013 announced Shareholders will receive a dividend of CA$0.013. Ex-date: 31st July 2024 Payment date: 15th August 2024 Dividend yield will be 4.1%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (141% earnings payout ratio). However, it is well covered by cash flows (34% cash payout ratio). The dividend has increased by an average of 15% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 57% to bring the payout ratio under control. EPS is expected to grow by 88% over the next year, which is sufficient to bring the dividend into a sustainable range. Announcement • Jul 15
Tamarack Valley Energy Ltd. Declares Monthly Dividend, Payable on August 15, 2024 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on August 15, 2024, to shareholders of record at the close of business on July 31, 2024. This monthly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Jun 10
Tamarack Valley Energy Ltd. to Report Q2, 2024 Results on Aug 01, 2024 Tamarack Valley Energy Ltd. announced that they will report Q2, 2024 results Pre-Market on Aug 01, 2024 Announcement • May 16
Tamarack Valley Energy Ltd. Declares Monthly Cash Dividend, Payable on June 14, 2024 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on June 14, 2024, to shareholders of record at the close of business on May 31, 2024. Announcement • May 09
Tamarack Valley Energy Ltd. Provides Production Guidance for the Year 2024 Tamarack Valley Energy Ltd. provided production guidance for the year 2024. For the year, the company expects 61,000 boe/d- 63,000 boe/d. Declared Dividend • Mar 25
Dividend of CA$0.013 announced Shareholders will receive a dividend of CA$0.013. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 4.2%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (72% cash payout ratio). The dividend has increased by an average of 23% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 16% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 15
Tamarack Valley Energy Announces Declaration of Monthly Cash Dividend, Payable on April 15, 2024 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on April 15, 2024, to shareholders of record at the close of business on March 29, 2024. Announcement • Mar 03
Tamarack Valley Energy Ltd. to Report Q1, 2024 Results on May 08, 2024 Tamarack Valley Energy Ltd. announced that they will report Q1, 2024 results Pre-Market on May 08, 2024 Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: CA$0.17 (vs CA$0.75 in FY 2022) Full year 2023 results: EPS: CA$0.17 (down from CA$0.75 in FY 2022). Revenue: CA$1.42b (up 21% from FY 2022). Net income: CA$94.2m (down 73% from FY 2022). Profit margin: 6.6% (down from 29% in FY 2022). Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 26
Dividend of CA$0.013 announced Shareholders will receive a dividend of CA$0.013. Ex-date: 28th February 2024 Payment date: 15th March 2024 Dividend yield will be 4.8%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 4.0% to bring the payout ratio under control. EPS is expected to grow by 38% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Feb 23
Tamarack Valley Energy Ltd., Annual General Meeting, May 08, 2024 Tamarack Valley Energy Ltd., Annual General Meeting, May 08, 2024. Announcement • Feb 15
Tamarack Valley Energy Ltd. Announces Declaration of Monthly Cash Dividend on its Common Shares, Payable on March 15, 2024 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on March 15, 2024, to shareholders of record at the close of business on February 29, 2024. Announcement • Feb 01
Tamarack Valley Energy Ltd. Appoints Ms. Shannon Joseph to the Company's Board of Directors Tamarack Valley Energy Ltd. announced the appointment of Ms. Shannon Joseph to the company's Board of Directors, effective February 1, 2024. Ms. Joseph is the Chairperson of Energy for a Secure Future, an initiative of Canada's natural gas value chain. Previously she held the position of Vice President of Government Relations and Indigenous Affairs at the Canadian Association of Petroleum Producers (CAPP). Ms. Joseph is a sustainable development and public affairs professional, bringing over 15 years of diversified non-profit and private sector experience in strategy development, federal, provincial and international government relations, and Indigenous relations related to Canada's energy sector and municipalities. She led work related to federal policies, as an advocate for Canada's upstream oil and natural gas industry, in support of initiatives focused on addressing climate change. A member of the Order of Engineers of Quebec, Ms. Joseph holds a Bachelor of Engineering degree from McGill University and Master of Applied Science in Civil Engineering from the University of Toronto. Ms. Joseph has served on the Boards of Directors of the Canadian Environmental Grantmakers Network (now Environmental Funders Canada) and the Energy Council of Canada and was a member of the Advisory Council for the University of Ottawa's Positive Energy initiative. Upcoming Dividend • Jan 23
Upcoming dividend of CA$0.013 per share at 4.9% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 15 February 2024. Payout ratio is on the higher end at 94% but the company is not cash flow positive. Trailing yield: 4.9%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (3.2%). Announcement • Jan 16
Tamarack Valley Energy Ltd. Declares Monthly Cash Dividend, Payable on February 15, 2024 Tamarack Valley Energy Ltd.'s Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on February 15, 2024, to shareholders of record at the close of business on January 31, 2024. Announcement • Dec 09
Tamarack Valley Energy Ltd. to Report Q4, 2023 Results on Feb 29, 2024 Tamarack Valley Energy Ltd. announced that they will report Q4, 2023 results at 9:30 AM, US Eastern Standard Time on Feb 29, 2024 Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €2.08, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 205% over the past three years. Upcoming Dividend • Nov 24
Upcoming dividend of CA$0.013 per share at 4.2% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 15 December 2023. Payout ratio is on the higher end at 94% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (2.8%). Announcement • Nov 17
Tamarack Valley Energy Ltd. Announces Declaration of Monthly Dividend, Payable on December 15, 2023 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on December 15, 2023, to shareholders of record at the close of business on November 30, 2023. Announcement • Nov 04
An unknown private operator completed the acquisition of non-core west central Alberta assets of Tamarack Valley Energy Ltd. (TSX:TVE). An unknown private operator entered into a definitive agreement to acquire non-core west central Alberta assets of Tamarack Valley Energy Ltd. (TSX:TVE) for approximately CAD 120 million on October 19, 2023. Tamarack is selling the assets for cash consideration of CAD 123 million, plus the assumption of CAD 38.4 million and CAD 80.6 million gross operated inactive and active ARO respectively. Kevin Johnston will join the Tamarack finance team. The transaction is subject to customary closing considerations and is expected to occur on or about November 3, 2023. National Bank Financial Inc. and RBC Capital Markets acted as financial advisors to Tamarack. Stikeman Elliott LLP acted as legal counsel to Tamarack.
An unknown private operator completed the acquisition of non-core west central Alberta assets of Tamarack Valley Energy Ltd. (TSX:TVE) on November 3, 2023. Announcement • Oct 28
Tamarack Valley Energy Ltd. Provides Production Guidance for the Year 2023 Tamarack Valley Energy Ltd. provided production guidance for the year 2023. For the year, the company expects 2023 annual production guidance range has been updated to 65,500 to 69,500 boe/d from 67,000 to 71,000 boe/d pervious guidance. New Risk • Oct 27
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). High level of non-cash earnings (34% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.5% net profit margin). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CA$0.02 (vs CA$0.28 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.02 (down from CA$0.28 in 3Q 2022). Revenue: CA$387.1m (up 42% from 3Q 2022). Net income: CA$8.63m (down 93% from 3Q 2022). Profit margin: 2.2% (down from 46% in 3Q 2022). Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Oct 23
Upcoming dividend of CA$0.013 per share at 3.7% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 15 November 2023. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (2.6%). Announcement • Oct 20
An unknown private operator entered into a definitive agreement to acquire non-core west central Alberta assets of Tamarack Valley Energy Ltd. (TSX:TVE) for approximately CAD 120 million. An unknown private operator entered into a definitive agreement to acquire non-core west central Alberta assets of Tamarack Valley Energy Ltd. (TSX:TVE) for approximately CAD 120 million on October 19, 2023. Tamarack is selling the assets for cash consideration of CAD 123 million, plus the assumption of $38.4 million and $80.6 million gross operated inactive and active ARO respectively. Kevin Johnston will join the Tamarack finance team. The transaction is subject to customary closing considerations and is expected to occur on or about November 3, 2023. National Bank Financial Inc. and RBC Capital Markets acted as financial advisors to Tamarack. Stikeman Elliott LLP acted as legal counsel to Tamarack. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €2.88, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 6x in the Oil and Gas industry in Europe. Total returns to shareholders of 489% over the past three years. Announcement • Oct 18
Tamarack Valley Energy Announces Declaration of Monthly Dividend, Payable on November 15, 2023 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on November 15, 2023, to shareholders of record at the close of business on October 31, 2023. Announcement • Sep 21
Tamarack Valley Energy Ltd. Announces Monthly Dividend, Payable on October 13, 2023 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on October 13, 2023, to shareholders of record at the close of business on September 29, 2023. Upcoming Dividend • Aug 23
Upcoming dividend of CA$0.013 per share at 4.3% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (2.5%). Announcement • Aug 17
Tamarack Valley Energy Ltd. Announces Monthly Dividend, Payable on September 15, 2023 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on September 15, 2023, to shareholders of record at the close of business on August 31, 2023. Announcement • Jul 29
Tamarack Valley Energy Ltd. Provides Production Guidance for the Year 2023 Tamarack Valley Energy Ltd. provided production guidance for the year 2023. For the year, Tamarack is maintaining prior 2023 production guidance of 67,000 to 71,000 boe/d which was outlined in May 2023. Announcement • Jul 28
Tamarack Valley Energy Ltd. (TSX:TVE) acquired Infrastructure Assets in Clearwater Oil CGU for CAD 11 million Tamarack Valley Energy Ltd. (TSX:TVE) acquired Infrastructure Assets in Clearwater Oil CGU for CAD 11 million on May 31, 2023.
Tamarack Valley Energy Ltd. (TSX:TVE) completed the acquisition of Infrastructure Assets in Clearwater Oil CGU on May 31, 2023. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: CA$0.05 (vs CA$0.33 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.05 (down from CA$0.33 in 2Q 2022). Revenue: CA$317.3m (down 3.5% from 2Q 2022). Net income: CA$25.7m (down 82% from 2Q 2022). Profit margin: 8.1% (down from 44% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 1.4% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 71% per year, which means it is significantly lagging earnings growth. Announcement • Jul 23
Tamarack Valley Energy Ltd. Declares Monthly Cash Dividend on its Common Shares, Payable on August 15, 2023 Tamarack Valley Energy Ltd. announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the company's dividend policy. The dividend will be payable on August 15, 2023, to shareholders of record at the close of business on July 31, 2023. Announcement • Jun 21
Tamarack Valley Energy Announces Declaration of Monthly Dividend, Payable on July 14, 2023 Tamarack Valley Energy Ltd. to announced that the Board of Directors has declared a monthly cash dividend on its common shares of CAD 0.0125 per share in accordance with the Company's dividend policy. The dividend will be payable on July 14, 2023, to shareholders of record at the close of business on June 30, 2023. Recent Insider Transactions • May 25
Independent Director recently bought €98k worth of stock On the 18th of May, Jeffrey Boyce bought around 40k shares on-market at roughly €2.43 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.7m more in shares than they have sold in the last 12 months. Upcoming Dividend • May 23
Upcoming dividend of CA$0.013 per share at 4.2% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.3%). Announcement • May 12
An unknown buyer acquired Certain Non-core Natural Gas Assets of Tamarack Valley Energy Ltd. for CAD 2.3 million. An unknown buyer acquired Certain Non-core Natural Gas Assets of Tamarack Valley Energy Ltd. for CAD 2.3 million in the first quarter 2023.An unknown buyer completed the acquisition of Certain Non-core Natural Gas Assets of Tamarack Valley Energy Ltd. in the first quarter 2023. 
