Well this is interesting.Just saw this.Looks like it was put out by Stockwatch.
Osprey Energy Ltd -
Osprey Energy fifth most active conference
Osprey Energy Ltd
OEL
Shares issued 5,334,288
2000-07-27 close $1.05
Monday Jul 31 2000
Week ended July 30th
by Stockwatch business reporter
This is the first review of Osprey Energy in Forum Watch, slipping into fifth
position among Canada Stockwatch's most active conferences.
Osprey is a junior oil and gas company with projects in Alberta and Louisiana.
The company began trading in September, 1998, following a 1-for-10
consolidation of Fort Point Resources and a name change. A year later, the stock
was trading for a dime before settling in around 50 cents between September,
1999, and February of this year when it suddenly doubled to $1. In March, the
stock hit a 52-week high of $1.75 before dropping back below $1 in May.
The primary interest in the stock in recent months seems to be with respect to the
company's interests in Louisiana. Osprey has a 30-per-cent working interest in the
Livingston field where, according to a March 9 news release, two wells are
currently producing in excess of 150 barrels of oil per day with a third well
expected to increase that production to approximately 300 barrels of oil per day.
In addition, Osprey has a 15-per-cent interest in the Bayou Choctaw field, with a
right of first refusal for an additional 30-per-cent interest. The company has also
received conditional approval on the acquisition of a 50-per-cent working interest
after payout of another Louisiana property for $2.1-million (U.S.). The purchase
includes one producing gas well with approximately 21,000 acres and all existing
production equipment, facilities and related engineering data.
The Osprey conference has drawn a small number of posters to this point and the
discussion consists mainly of affirmations that the stock price will be rising.
'Slickster,' one of the first posters to the conference, wrote: "This stock is starting
to be recognized as very undervalued! Pick up a position on this one people! I'll
be with you at the finish line!" On Monday, 'Dragonfly' joined the conference,
announcing that he had placed an order for 17,000 shares at $1.02 but only 5,000
shares had been filled so far. "This is a good sign," he wrote. Had I got all of it,
that would mean people want to easily give up their shares. Look at it fly."
'Slickster' suggested that 'Dragonfly' might have a better chance of having his
order filled if he raised the bid to $1.05. "This is so tightly held!" he exclaimed.
The following day, 'BluenoseII' joined in, suggesting that the stock price might rise
10 per cent that day if the spread tightened up. As it turned out, only 2,500 shares
changed hands on Tuesday and the stock closed up two cents.
'Logger' joined the conference: "The bids are being pulled? Is this good or are
people getting leery here? This looks like a good stock. Did some research over
the weekend but I find the last financials are very weak. _Maybe I will just watch
for a bit longer. Do these guys have any revenue at all or are we waiting for them
to drill or something." 'Slickster' fielded the revenue question. "Yes they do but I
don't think even the year-end report will reflect it too much," he wrote. "The
report I'll be eagerly waiting for is the quarter end for September. I'm going to
load up down here and count my money when that report comes!"
Followers of Osprey are invited to join the discussion in Canada Stockwatch's
free public forums. The thinly traded stock closed at $1.05 on July 27 on a
volume of 5,000 shares.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com |
