₪ David Pescod's Late Edition December 27, 2007
INTL. FRONTIER RES. (V-IFR) $0.90 -0.04
The stock of International Frontier Resources has been heading up of late and why not? They’ve just come from one of the worst years of the company’s history, a year in which two high profile/potentially high impact plays in the North Sea, both came up with zero. And meanwhile, their huge holdings of land in the Northwest Territories didn’t see any exploration drilling last year at all. Zero for two isn’t what you’re looking for.
Now however, Pat Boswell of IFR tells us that the rig spudded on the 21st of December on their Ridgewood play in the North Sea and with a few days off for Christmas, should be close to depth and testing near the 20th of January. This is a sizeable play that could have big implications for International Frontier. But it’s just the start of several plays.
They are also partnered up with PetroCanada on the Maria prospect in the North Sea, but Boswell cautions us that they are currently having a little trouble making sure they have a rig to drill in the first quarter. Even with companies the size of PetroCanada as partners, rigs in the North Sea are still something that is in short supply.
Meanwhile, if there is something that Boswell gets excited about, it’s their Dahadinni play in the NWT that gets drilled shortly. They are waiting for the Feds to give the okay on the winter roads that gets so much activity going in the north country and there has been global warming ... some of these roads just aren’t getting the usage they did years ago.
International Frontier Resources
But Boswell suggests to us it will be the potentially the biggest well to be drilled in Canada this year. He’s looking for targets the size of 1200 feet and not at that great a depth. The implications he suggests, are once again, enormous.
They have a 15% interest along with corporate biggie Husky. Right after they finish that a second well in the NWT (and ironically a relatively shallow one) the Keele River L52 prospect will be drilled as well. He compares it to Norman Wells, the big area of production in the NWT that has now been producing for four and five decades.
Which gets us to a very interesting point. IFR and many companies already have stranded natural gas up in the NWT and when the MacKenzie Valley pipeline gets built, it is going to be quite important. Pat Boswell has a very interesting thought on all this...with Norman Wells left with only 4-6 years of production on their oil production, why not convert it to a natural gas pipeline? It would certainly be much more cost efficient and gets things going a lot quicker. Interesting thought.
 $5.45 +0.55<br>MARCH RESOURCES (V-MCF) $0.58 +0.06<br><u>UCORE URANIUM (V-UCU) $0.64 n/c</u></b><br><br>Today Anglo Minerals hit a new high and the chart shows that of a very strong stock over much of the year, although it too, participated in the recent ugliness.<br><br>When we caught up with Scott Koyich, “PR Guy to the Stars” who picked this stock way back at $1.00 per share, you can tell he is celebrating just a big as this was a tough year to be finding anything that ended up as a double, let alone a five-bagger like Anglo. Koyich just mentions that their agricultural sector of the world is attracting attention everywhere as demand for chicken, fish, meat and the like that much of the western world takes for granted, is now seeing huge demands in places such as China. And all these places need potash and other fertilizers for the feed stock.<br><br>“The whole potash sector is exploding” Koyich says as all agri-stocks are participating as well. He points to the new IPO/API that’s having a good run and reminds us that there’s not too many areas of the world that have big deposits of potash and landlocked Saskatchewan is one of the few sources. He suggests ultimately, with BHP as a partner, he wouldn’t be surprised to see some sort of take-over, but at these prices, one does wonder.<br><br>With such a hot pick from last year, we ask Koyich what are the stories he figures a person has to be watching for the coming year.<br><br>For the speculator, he points to his number one pick of March Resources.<br><br>They will shortly be drilling for natural gas in Chile and it’s been delayed quite a bit, something you typically hear about in foreign oil and gas exploration. It was expected to be spudded back in October, but delays in getting rigs from Canada created a bit of problem.<br><br>Right now he suggests, they are currently loading the rig from Houston, on its way to South America and he expects a spud, later in January.<br><br>We wonder if that’s not a little aggressive, but sometime in this first quarter, March will find out if they have something big or not. Koyich says simply, “March is either going to be $10.00, or zero.<br><br>For other stories he figures a person should be watching for this year, he likes Explorator Resources (EXO) and Ucore Uranium, a former uranium producer in Alaska.<br><br><b>To receive the Late Edition and be on our daily circulation simply e-mail Debbie at Debbie_lewis@canaccord.com and give your address, phone number and e-mail and we’ll have you on the list tonight.</span></td></tr></table></div></tr></td><tr><td colspan=99 class=) |
