Kodiak Oil & Gas Corp (KOG) Message Board

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Gold/Mining/Energy : Kodiak Oil & Gas Corp (KOG)

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To: tcd who wrote (6)	5/10/2009 9:51:07 AM
From: Todd R. Levine	Read Replies (1) of 44

I have been spending hours trying o research other expert opinions of KOG. This includes both upgrades and downgrades. It seems most of the upgrades (which were not many) happened in the 2006-2008 time frames. From what I have been reading, these upgrades were based on basically a few points: 1. Higher oil prices, 2. Belief that theVermillion Basin has a substantial amount of oil and that KOG is in a position to efficiently extract it, 3. That a transition to full oil operations would have been in place by the end of 2009. There are of course other mentions related to their potential gas play too. There were price targets ranging from $2.50 to $6/share based on these above factors. I have read opposing opinions basically saying that Kodiak Oil has not to date been able to extract this oil in a way that would make it a financially lucrative company. In fact an argument was made that even when oil was at its peak this company was still losing money. Now that oil prices have been lowered - at least this portion of the calculation into KOG value could be lowered. So in MY own limited opinion, I have used old estimates in this higher range and can did my own lower calculations into value. Based on oil price alone, these estimates can be lowered into an area where we thought the chance of this very cheap stock price doubling in the near future looking pretty good. The only thing that is really nagging me is when are they going to be able to actually start extracting oil in much higher volumes? Is it 2009? I don't think so based on what I listened to. I heard there SHOULD be a lot of oil based on their preliminary drilling and that of other companies in the region. I wanted to check my Scottrade news. The web site is temporarily down now. I have seen a more recent expert ratings of "hold" which was lowered from "buy." I hate using the word "expert" because they seem to WRONG all the time with this company! In fact, many of them are just plain wrong most of the time. In an up market, everyone is a genius though! Am I missing or completely wrong about something that I have written above??? Todd

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