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Gold/Mining/Energy : Oil Sands and Related Stocks
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To: Carpe per Diem who wrote (6445)2/1/2006 8:24:24 PM
From: Taikun  Read Replies (1) of 25575
 
Rinks:

BVI is an interesting company. 12/03 and a $7 stock and rumors of a takeover emerged. The company was a HO play with an oil sands plan.

Seymour Schulich (NEM Chair) comes along as white knight Jan 04 and takes a decent position, share price rises during his buying then levels off.

(Schulich also behind NEM's COS.UN position and NEM's oil sands holdings)

Schulich has since added to his position a couple of times.

One possible reason for the share price languishing could be the HO component. In their financials they reported spending C$5.95/bbl on diluent to make their HO pipeline-compatible.

Another reason is the strategy. Their oil sands property Hilda could have a billion bbls and they have a 10,000bpd plan, which they will finance from CF.

Some investors prefer a more aggressive stance in this market. They want placements and debt offerings to accelerate production. (The grassroots approach probably appeals to Schulich who has a university B-school named after him):

In 1995, distinguished benefactor Seymour Schulich donated $15,000,000 to York University for the business school, the largest gift of its kind in the history of Canadian universities.
schulich.yorku.ca

Finally, this company is low on PR. I wonder if the ultimate plan is to tie up with NEM? I wonder if there is no place for partners?

If we are wrong, BVI could shoot up on news, but so far it has the air of a company being run conservatively.

I could be wrong.

D
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