The Oil & Gas Elephant Hunt Message Board

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Gold/Mining/Energy : The Oil & Gas Elephant Hunt

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To: Brinks who wrote (87)	11/16/2006 9:36:37 PM
From: Brinks	Read Replies (3) of 310

F.Tardif (Sprott) Comments on Delta Petro DPTR -- JF Tardif of Sprott was on RobTV tonight, and a caller asked him about DPTR, and whether talk of a $800 NAV was correct. Tardif's answer: - it is Eric Sprott himself deserves credit at Sprott for finding this one and Eric has been "pounding the tables" on it. - CRB has huge pool of gas. ECA thinks about 400 Tcf of NG in place - 1 Tcf is worth $1 to $2 billion. - Not all potential is recoverable, but if you put some recovery rate on this very large potential, you can come up with very big numbers. - that is why our firm owns almost 20% of the company. - we think there is a good chance the big asset to be economical and will come to market, and hope it goes to a multiple of where it is trading today. Interviewer noted average analyst target is $28-$29, asked for Sprott target: -- if you listen to us, we hope it is "way more than a double". -- we have no target price, some people mention $800, we hope that happens, but we can't be 100% sure of that target. END From IV

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