Richard
Great job on takeover forum
Please add Barrington T.BPL to your list. The company has been put on the block by it's banker owner, as a result of the Sumona bankrupcy.
As far as numbers go, they were profitable in Q3 for the first time since 1997, and I expect them to be even more profit in Q4.
They have a big exposure to heavy oil in cold lake area, with higher operating costs. They sold off lots of gas already, so they not as gassy as they used to be.
On the exploration front they are drilling in Cold lake like crazy with a 100% success rate, it's like an assembly line for drillers but as mentioned oper costs are higher and if oil does fall, their profits will disappear before the light low cost operators.
I recall they have also had some success with gas exploration in 2000 but I don't have the numbers handy right now.
They also have a liability with their NG notes which I can't explain right now, but they should command a small premium to todays price.
For $ 1 stock , even a .30 premium is a 30% return, so it's got potential, however the float is very small since 97% of the shares are in the hands of the bankers and liquidity is next to none.
So after all my rambling, it makes no sense adding them to your list since most of us can't buy shares in them anyway, due to low liquidity.
Never mind
Cheers |
