peter d - CSH Chain & a whole pile of links. energydatanet.com
Interesting? & a recent shareholder.
A while ago someone posted a couple of times re: the situation and that started a little bit of digging. At the risk of sounding hypish here are some links, etc.
Posts from Sept. 28 mentioning the situation:
#reply-14473064 and #reply-14473399
As one of the earlier posts mentioned, the situation is the result of a renamed merge between two other cos. - Arrival and AltaQuest. investdb.theglobeandmail.com The SEDAR filings are at sedar.com and a brief mention re: the name change is in an archived Oil&Gas Investor magazine google.com
A look at some land sale results indicated that CSH is jointly involved with TLM Talisman in some areas in the Peace River Arch area. The Aug. 23 land sale lists a couple of parcels (A0527 & A0528) plsx.com
More recently the Nov. 1 land sale results also show CSH & TLM 50/50 for some land that appears to be in the Gordondale area (Parcel A0218) discoveryplace.com
The 3Q news release mentions "At the time of the merger with Arrival Energy Ltd., the Company identified two key areas in Western Canada that would provide opportunities for the Company's growth. In the Peace River Arch area, the Company entered into five complimentary transactions in a joint venture with a large independent producer. The joint venture includes the shooting of a 32 square kilometer 3D seismic program, the acquisition of key lands at various Crown sales and various other participation arrangements. The seismic acquired has resulted in the identification of six locations, of which three are planned to be drilled prior to March 31, 2001. On the additional properties subject to the joint venture, there will be two wells drilled prior to year-end with a third slated prior to the end of the winter drilling season."
The price and volume history is at investdb.theglobeandmail.com
peter d - The 3Q news release that you posted alludes to some potentially "interesting" words too in the "Outlook" section - "The company is on target to exceed its cash flow projections by a significant margin for 2000 and to exit the year with net debt of approximately $5 million. Today (Nov. 8) the company will be presenting in Calgary at SEPAC and someone who may attend can hopefully confirm however I believe "current projections" are somewhere in excess of $6.5mil, likely closer to $7.0mil. Total shares outstanding are 24.6mil and f.d. number is 29.4mil. The math, using a $0.45 share price, would also indicate a P/CF ratio of less than 2.0x
Co. is indicating they will be drilling between 5 - 7 wells this winter. I haven't yet seen it however supposedly a website will be appearing before too long and 2001 capex will likely be somewhere in the neighbourhood of $10mil. Line of credit with the bank is currently $7.0mil on a revolving basis and there's another $3.0mil. for acquisition availability.
Apologies again for sounding hypish, situation may possibly be worthwhile to watch? Mgmt. profiles would also indicate some years of experience.there's a mgmt. circular filed at SEDAR which details info. Mgmt & insiders and a couple of larger shareholders would appear to hold about 40% of the stock.
Dan Wilson - President & CEO
Ken Truscott - Senior VP & COO
Andy Kramchynski - Senior VP, Corp. Dev.
Peter Guyan - VP, Exploration
John Hecht - Controller
quote.stockwatch.com |
