₪ David Pescod's Late Edition January 17, 2008
TYLER RESOURCES (V-TYS) $1.55 n/c
SOLANA RESOURCES (V-SOR) $2.77 -0.18
OILEXCO INC. (T-OIL) $11.59 -0.61
CONNACHER OIL & GAS (T-CLL) $3.36 -0.14
We had taped an interview with one very busy Josef Schachter on Monday, but unfortunately our tape recorder was running low on batteries and meanwhile, we had caught up with Schachter at a very busy Calgary airport where much of the interview seemed to be airplane announcements and the like and it looks like we won’t be able to publish that little interview.
One of our points was how Josef had been singing a few songs for the last couple of months that obviously weren’t too popular at the time, but have certainly started to work out.
First of all was his belief that sooner or later gas was going to do better and here gas sits at $8.00 and we are starting to see some significant movements in natural gas stocks. We still need some cold over the next couple of months, but this could be the start of something different.
He had also been a big believer in something out of his realm, a mining story called Tyler Resources (TYS) that had simply tanked and then someone wanted to buy it, and then someone else wanted to buy it and suddenly Tyler Resources over the last few months has been one of the hottest stories out there.
Another story he has been loyal to for some time is Solana Resources which had delay after delay after delay. And with delays you get a stock that goes the wrong way. Well take a look at it now folks, it’s been soaring of late and Schachter tells us that he expects significant news on Friday of this week on their ongoing developments.
This week he also had a long lunch with Art Millholland of Oilexco fame and both Millholland and Schachter are wine connoisseurs and we hear that lunch might have gone into several rounds. We don’t know who won, but in the interview, Schachter picked Oilexco as his number one story; Sterling Resources which recently has been successful on their Doina Sister well offshore Romania as number two and Delphi Energy (DEE), one of the natural gas stories he’s been a believer in as a number three pick. We should mention that his target on Oilexco is $25.00, but down the road he can see a multiple of that. With Sterling, his target is $5.00, but he can see down the road the company cash flowing more than it’s currently trading at.
Some of us that are long-time share holders of Connacher Oil and Gas, he probably did his best work as he was interviewed on Business News Network last Friday and one of the viewers asked for his thoughts on Connacher.
He said at the time, that because he is a believer in higher oil prices, he would expect to see Connacher hitting new all-time highs down the road which was some of the hand-holding we needed in this stock at this time (although in this market, a lot of folks need hand-holding for a lot of stocks).
To take a look at the interview, go to www.bnn.ca and watch past videos from Friday, January 11th at 11:30 AM ET. Regarding that comment Schachter reminded us that he doesn’t cover Connacher or heavy oil plays and prefers the drill bit plays.
Meanwhile, Schachter has been off for business in Toronto and a wedding in Philly and sometime soon, we hope to get that interview done with equipment that works! Happy trails Josef!
STERLING RESOURCES (V-SLG) $2.51 -0.20
ANTRIM ENERGY (T-AEN) $3.94 -0.13
With the recent discoveries by Sterling Resources and Schachter’s keen comments on the stock (in a market that doesn’t care about anything these days) if was still time to take a visit with Ken Croft, who does the investor relations for Sterling and his background is interesting ... he is a former oil and gas analyst who knows the business rather well.
When we ask him for his thoughts on the state of the markets, he is whining just a bit about having a balanced portfolio that might include a few banks stocks ... oh well, there’s a lot of that these days. But onto oil and gas which is his specialty and he is kind of amazed to see the sell-off in some of the stocks out there and seeing as Sterling’s main portfolio is in the North Sea, when we ask him for his number one pick (other than his own) what would it be? ...
He replies Antrim Energy, one of the North Sea players that has seen its stock devastated. They did a financing not too long ago at a bit above $6.00 and it’s previously seen a high of $8.00. So here it is, at a two for one sale. Croft did mention they do have small interests in Argentina that has been affected by a royalty review, but as far as if he could only buy one other than his own, Antrim is his pick. As we said, it, like many others these days, is on sale.
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