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Gold/Mining/Energy : The Oil & Gas Elephant Hunt
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From: Brinks10/21/2006 1:43:27 AM
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Pescod Delta Petroleum DPTR --

Pescod's Stocktalk 10/20 (Canaccord)

"DELTA PETROLEUM (US:DPTR) $26.00 -0.14
We got interested in Delta Petroleum ever since we interviewed
Eric Sprott, a high profile Canadian investment manager with
Sprott Asset Management, and one who is very much in the
“bullish-camp” on commodities these days. One of his favorite
stories was Delta Petroleum and we have been following it ever
since! It seems like every week there are additional analysts,
down south of the border, that start following it and many of
them have some pretty ambitious targets…….that’s if any of
their three very high profile plays work out and there is probably
nothing with a higher profile then the Columbia River Basin.
It’s been drilled over the decades, but only with recent technology
might they recover just what might be down there. It’s
hard to believe, but they have already spent two years drilling
this play and we still don’t know what may or may not be down
there. When we talked to the company the other day, the suggestion
was that because it is such a big intercept and there
will have to be so much testing done, we may not know what
they have or don’t have until closer to Christmas. Delta’s partners
in the play are big names like EnCana and Shell and needless
to say some have some lofty expectations. One thing we
have noticed lately, is that every day it seems to hit a new high!"
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