₪ David Pescod's Late Edition April 17, 2006
PETROLIFERA PETROLEUM (T-PDP) $11.46 -0.54
RALLY ENERGY (T-RAL) $ 1.96 +0.04
KODIAK OIL & GAS (V-KOG) $ 4.37 +0.86
It’s been awhile since we have been able to catch up to
one of our favorite oil and gas guys—Andy Gustajtis, who
these days, makes his home at Dominick and Dominick.
We are of course, looking for his top three stories and one
of them he can’t comment on because of his obvious involvement
in a financing at this time.
As far as the three favorites that he can talk about, Petrolifera
Petroleum makes that list because he says, “it’s simply
cheap” compared to what he expects for production down
the road. We remind folks that if you are worried about foreign
investments these days, most of their assets are in Argentina
and Peru. His target is $20.00.
Rally Energy, he suggests that their chart is going the right
way and on the verge on breakout and he has a $3.50 target.
One stock that makes his top three that is making a big
move today is Kodiak Oil & Gas. For those with high risk dollars,
he suggests this is one to take a look at. What’s got the
stock going now is Questar and things that that company is
telling anyone who is interested about their assets in the
Vermillion basin in Wyoming. Questar has about 140,000
acres there and is very aggressive about the area.
Little Kodiak has 30,000 acres and Gustajtis is suggesting
that should this area work out, the suggestion is that they
could have several hundred locations in this Vermillion basin
down the road.
However, it’s not going to be too active in the short term if
they only have two wells scheduled there for later this year.
In the meantime, Gustajtis points to the fact that the company
is cashed up after a recent financing, should be listed
on the American Stock Exchange and he gives it a very aggressive
$10.00 target.
“Look at the latest news” release he suggests, as the
company does a full update of what they hope to accomplish
over the next while.
Once again, a couple of hundred locations in the Vermillion
basin seems to be the key driving factor for the company
right now and just what each of those wells could deliver.
PLUTONIC POWER (V-PCC) $0.86 -0.09
It was just a few weeks ago we were in Mexico and we
have to recommend that if you are looking for a chance to get
away, Paradise Village in Nuevo Vallarta is a place to consider.
It may not have the warm Caribbean waters and sugar
sands of the Caribbean, but the resort is just jammed packed
with things to do and perfect for the family.
Everything from para-sailing to boogie boarding to bowling
to shuffleboard to big pools to all you can eat to nice
clubs to zoos to its own little mall to you name it, it has a little
bit of everything!
So we weren’t too surprised to find out that Joe Martin was
at the same place, just a week before us. I guess even those
who spend much of their time counting their money need a
break every once in a while.
Joe Martin’s next conference, the Calgary Resource Investment
Conference goes next weekend, April 23 and 24th and
we are glad to be there. We are hosting two panels, one on
Sunday which is a workshop with two of our favorite people,
Eric Coffin and Jim Letourneau. The question is, can Coffin
continue to come up with the doubles and triples that his
brother Dave (and he) have come up with in the “Hard Rock
Analyst”. What one story do they like now?
Jim Letourneau hopefully can give some people that are
curious, a look at what the heck is all this fuss about coal bed
methane we are suddenly getting into.
On Monday at 1:00, we emcee an oil and gas panel that
should be interesting because of the three people we have on
it. No one has been singularly more viewed for his opinion on
Oilexco (OIL) than Haywood analyst Fred Kozak and it will be
interesting if he is sticking with that $8.00 target, or is he
moving it?
Then there’s Jim Welykochy formerly the president of Cosco
and now an analyst with Genuity Capital. Is he going to
mention publicly that junior oil and gas stock he thinks is a
double or triple by Christmas...or stick with Delphi Energy
(DEE) as one of his top picks?
Then there’s Jim Letourneau, who in his “Big Picture
Speculator” suggested Falcon Oil and Gas (FO) just over a
month and a half ago and has since doubled. Considering it
now has a market valuation of almost a billion and a half dollars,
despite having no profit, no revenue and not even one
successful well, is it not time to make sure you’ve taken some
profits? Or for that matter, should you be out?
As far as the show, we figure there are a couple of booths you
have to visit for sure. There are more than a few analysts suggesting
that Wolfden Resources (WLF) is going to be worth a lot more
broken up into several parts than as the one company it currently
is. Do you know what those assets will be? Visit the booth.
IMA Exploration (IMR) has been in legal problems for almost two
years now. With one of the biggest silver discoveries in the last
decade, their Navidad project sits there and the stock is not getting
its appreciation. Just when do we get a decision?
Nova Uranium (NUC), we’ve mentioned a lot and the question to
ask Don Moore is, just what do you think the market is expecting
from results out in about ten days and what will it take (in his estimation)
to hit that $10.00 target of the Coffins?
Impact Silver (IPT) is the center of several rumors right now,
some of them quite interesting and Redhawk Resources (RDK) has
two base metal stories you should be up on. This quiet company
has the Remac Zinc project in B.C. and just seeing as it’s so close
to the Trail smelter, how come nothing goes on there. Meanwhile,
what is attracting attention, is their Copper Creek project in the
good old U.S.A. How big could it be?
Speaking of some of these companies that have doubled and
tripled, you have made sure to take some off the table and enjoy
yourself, right? If the Paradise Village isn’t right for you, maybe
the Island of Saint-Martin in the Caribbean is.
The tiny island, divided between the Dutch and the French has
beside the warm waters and sandy beaches, an intriguing tourist
attraction…..its airport! You got it. It starts right at the beach, so
for some people sun tanning, you get a view of airlines that you’ll
never get near an airport! If you would like to see more pictures of
this, just e-mail Sandra at sandra_wicks@canaccord.com.
GOLD: $615.60 +18.90
Lots of excitement on commodity markets today, because
of the ongoing concerns with Iran, oil is above
$70.00; natural gas has quite a move and gold moves
an astonishing $18.00! But what does it mean when
gold moves that much and the gold index barely
budges and many gold stocks are...well, not doing
anything? Is it just tax time or is it something deeper
going on? |
