Excerpts yesterday Eric Sprott and David Pescod. Eric is the Warren Buffett of Canada. He answers your question also:
Here is part about DELTA dptr
Eric Sprott interview from today's Late Edition
D.P: Of your picks in the last interview we did, Delta
Petroleum is up almost 66% in just a few months. We
are very appreciative of that, but there hasn’t been a
lot of news out on the company.
E.S: There’s a lot of chatter going on if one looks at
some of the chat lines here. They are involved in
three major hydrocarbon plays. The one that we
invested in initially was for the Columbia River Basin
in Washington. Encana has completed the first well,
they are currently testing it and the beauty of the
basin-centered gas plays is that if you hit on the
first well, you can almost imagine that you can hit
on the whole play. It’s just gas that’s in rocks, so
it’s called an “unconventional play” and we will be
able to jump to some conclusions very quickly as to
how effective it could be for everyone. Another play
is what they call the Paradox Basin and where they
announced a blow out because the downhole pressure
was too high. There was no damage fortunately, but it
looks like they might have a
pretty significant gas discovery. In the third play
they are just starting to drill called the Utah
Hingeline and I believe they spudded their well down
there and I think it could drill in something
like 45 days. So we could have a lot of company-making
news come out in the next three months.
D.P: Now this is a bit of an awkward question, but it
tends to focus on things…if you could buy only one
stock today, what would it be?
E.S: I would probably buy Delta Petroleum. I just
think there is so much upside here. I am not buying
the stock today, because I bought it a couple of
years ago, and I’m happily long, but I do believe
they have three world-class plays going on and any one
of them, could cause the share value to change quite |
