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Gold/Mining/Energy : Oil Sands and Related Stocks
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To: Chuckles_Bee who wrote (2070)8/26/2005 9:31:13 PM
From: Taikun  Read Replies (2) of 25575
 
If you have space in your portfolio WNWG looks good.

1. Mkt cap $15m
2. 100m bbls reserve, assume 60% recoverable, at 0.67/bbl, $67m in value
3. If they can acquire the other 500m, 300m recoverable, $180m value.

Just on the first deal there should be value, the only caveats would be:

A. infrastructure to develop the property, to get the product to an upgrader (in Alberta there are upgraders not sure how it works in Utah)
B. scaleability, as a small rpoject may not warrant an upgrader and selling bitumen (as BVI.TO does) isn't that profitable.

It probably has a place in an oil sands portfolio as a speculative position. Who knows, maybe the US becomes more energy independent through leadership by companies like this one. I will say this, the management team has no oil sands experience that I can see. This might be more speculative than CWPC. CEO is ex-Sonoran Energy.
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