₪ David Pescod's Late Edition March 18, 2008
PACIFIC RUBIALES (V-PEG) $1.47 -0.03
OILEXCO INC. (T-OIL) $14.41 +0.12
ANTRIM ENERGY (TAEN) $4.30 +0.21
Suddenly the lives of several Calgary-based oil and gas
analysts have changed dramatically, ever since the Alberta
Government decided to increase its royalty rates. That took
a slice of the excitement out of the oil and gas stories based
in Canada. Investors from abroad concerned that maybe
Alberta has joined the leagues of third world countries and
can’t be trusted and suddenly made more analysts look further
abroad for the big plays that market punters might be
looking for.
One of those is Fred Kozak and suddenly the days of taking
a drive up to Sylvan Lake or maybe over to Regina, are
being replaced with trips to London, Bangkok and Bogota.
As Fred tells us, some of his favorite stories now are the
North Sea (Oilexco, Ithaca—comments on the Manuel miss
tomorrow-and Antrim) and Coastal Energy for their play in
Thailand, but suddenly when you go to places like Columbia,
it’s when being an analyst takes on a whole different flavor.
For those who have followed the history of Columbia and
I’m sure not too many people have, this is a country that
over the last few decades has been torn with civil war and
it’s also been a place where one of the biggest business’s
had been kidnapping and blackmailing as a way of making a
buck. It was a brutal place to live, but under new administrations
led by President Uribe, things continue to get better.
Meanwhile, the slew of guerrilla groups has been reduced to
mainly one—the FARC crew that seem to be still be into kidnapping,
cocaine running and the like to maintain their whatever,
and of course surprise, surprise—these are Hugo
Chavez’s newfound friends.
Kozak tells us that Pacific Rubiales is now one of his top
three stories, but when he goes to look at their facilities in
Columbia it’s a bit of a new experience. While Bogota is a
cosmopolitan and quite a safe place to be operating, he
says, when he’s off to the province’s to examine their facilities
first-hand, it’s when suddenly things take a turn. All of a
sudden, he’s got military escorts to visit all the field facilities
of Pacific Rubiales plus other companies he might be looking
at.
For Kozak’s latest report on Pacific Rubiales, contact
Debbie at debbie_lewis@canaccord.com.
Meanwhile, Kozak has a big event this weekend, his 50th
birthday...All the best Fred!
SAN GOLD CORP. (V-SGR) $1.48 -0.03
LAKE SHORE GOLD (T-LSG) $1.80 -0.10
ANDINA MINERALS (V-ADM) $3.89 +0.09
AURIZON MINES (V-ARZ) $4.80 -0.50
What if gold went to $1000 ... and no one cared? Well,
actually people still do care, but it’s only about the big
gold’s—the Goldcorp’s, the Kinross’s, the Yamana’s, and
the Barricks. The little guys have not participated in this
run at all.
We show the charts of four of the stories we are kind of
keen on and the charts show you that despite the fact
many analysts like all four of these stories, they haven’t
participated.
San Gold continues to prove up ever more reserves on
its ongoing drilling on its extension of the Rice Lake area
and analysts universally like it, but the chart shows you
that so far, there has been little profit.
Lake Shore Gold just saw Hochschild Mining acquire 20%
of the company and paid a premium of $2.30 a share as
this company up in the Timmins mining camp of Ontario
continues to increase reserves and well on its way to becoming
a significant producer down the road. For a report
by Wendell Zerb with a target of $3.30, e-mail Debbie at
debbie_lewis@canaccord.com. But the chart shows you
once again...
Andina Minerals is on its way to having a significant resource
in Chile, but so far, not a lot of believers. Currently
being hit because they were expected to have a new resource
out by PDAC and it wasn’t ready and a lot of cheap
warrants have hit the stock.
One that’s finally breaking out though is Aurizon Mines,
which is establishing a track-record and is a rumored
merger/takeover candidate.
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. |
