The Oil & Gas Elephant Hunt Message Board

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

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From: Brinks	11/19/2006 8:00:50 PM
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Eric Sprott & David Pescod Friday Delta Pete DPTR Excerpts yesterday Eric Sprott (Warren Buffett of Canada) and David Pescod. Here is part about DELTA dptr Eric Sprott interview from today's Late Edition D.P: Of your picks in the last interview we did, Delta Petroleum is up almost 66% in just a few months. We are very appreciative of that, but there hasn’t been a lot of news out on the company. E.S: There’s a lot of chatter going on if one looks at some of the chat lines here. They are involved in three major hydrocarbon plays. The one that we invested in initially was for the Columbia River Basin in Washington. Encana has completed the first well, they are currently testing it and the beauty of the basin-centered gas plays is that if you hit on the first well, you can almost imagine that you can hit on the whole play. It’s just gas that’s in rocks, so it’s called an “unconventional play” and we will be able to jump to some conclusions very quickly as to how effective it could be for everyone. Another play is what they call the Paradox Basin and where they announced a blow out because the downhole pressure was too high. There was no damage fortunately, but it looks like they might have a pretty significant gas discovery. In the third play they are just starting to drill called the Utah Hingeline and I believe they spudded their well down there and I think it could drill in something like 45 days. So we could have a lot of company-making news come out in the next three months. D.P: Now this is a bit of an awkward question, but it tends to focus on things…if you could buy only one stock today, what would it be? E.S: I would probably buy Delta Petroleum. I just think there is so much upside here. I am not buying the stock today, because I bought it a couple of years ago, and I’m happily long, but I do believe they have three world-class plays going on and any one of them, could cause the share value to change quite. END

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