Bosco & Crossy's stock picks,talk area Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: LoneClone who wrote (37060)	3/14/2012 12:16:04 PM
From: LoneClone	1 Recommendation Read Replies (1) of 37387

CREDIT SUISSE: Reiterate Outperform and target price of $26,50 CAD ... Jury Is Still Out at Bua Ban South ¦ Oligocene Hits: The company announced successful exploration results in the Lower Oligocene at Bua Ban South. The G-01 well hit 88 feet of net pay with 12% porosity. Pressure data suggests that this accumulation in the Oligocene is a different pool than the one found at Bua Ban Main. While these initial exploration results are positive, we do not attribute substantial value to it at this juncture. We also believe that the market will likely have a greater response to the absence of the Miocene thus far at Bua Ban South. ¦ Miocene Absent…for Now: The first well at Bua Ban South did not encounter the Lower Miocene in this particular fault block, but the next two exploration wells will target adjacent fault blocks for the Miocene. We currently believe the jury is still out on the Miocene at Bua Ban South but note the market could assume a skeptical position before further results are available. ¦ More Fuel in the Tank: With much near-term focus on Bua Ban South, one could lose sight of all the other potential exploration resources yet to be drilled. Beyond Bua Ban South, there are currently still approximately 157 mmbbls in un-risked P50 recoverable resources to be targeted. This number could further expand on the back of the company’s 3D seismic acquisition program this year. We believe that past Bua Ban South, the company’s exploration focus would likely turn towards Bua Ban North Terrace. ¦ Recommendation: Although the absence of the Miocene thus far at Bua Ban South is disappointing, we believe the final verdict has yet to come with more exploration wells to be drilled. At current prices we believe the company’s identified 2P recoverable volumes to be somewhat discounted while the exploration upside comes for free. We reiterate our Outperform rating and target price of C$26.50. Posted by Scam on IH

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next