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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Chi-Chi who wrote (3967)10/21/1997 9:17:00 AM
From: HAZ  Read Replies (1) of 24933
 
Chi-Chi

Where were you a couple of months ago when the stock was trading at 0.69 cents.

After the recent financing of 5 million units or warrants by Nesbit Burns at 0.80 cents and the distribution to their retail clients the stock ran up nicely to 1.30, an 88 % return in only 2 months. I could live on this kind of return very nicely.

The company has had a good year with the drill bit and may continue to in 1998, but from a timing perspective I think the majority of the capital appreciation is over for the time being, what to you think ?

The current price of 1.10 - 1.15 reflects the NAV or a slight premium to NAV.

This stock has been flogged already, why not find one that is relatively unknown to analyst and brokerages and let the little guys get in on the ground floor.

My candidate is DRAIG ENERGY (DRA-ASE). I had issued a couple of posts earlier this year but there were no interested parties, so I just bought a ton of shares and waited for the fundamentals to drive the stock up, primarily from insiders increasing their holdings.

IMO, this stock will be a double by Feb or March-98, primarily from increasing production from some very promising wells in the Chigwell and Tony Creek area.

BOED started 97 around 200 BOED and currently stands at 400 BOED, with a projected exit rate of 600 BOED. I'm estimating BOED of 1000 - 1200 after the fall & winter drilling season.

Here is a recap of the press releases so far this year ;

exchange2000.com

Cheers and good investing
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