Robert / Canadian 88 Energy
This thread is getting to be fast and furious. There's a couple of us that
are familiar with Canadian 88 Energy. I'll be the first to offer something
on the company. For openers, the company is on my list of TOP 20
SELECTIONS and it was a late addition. I listed it at a price of $5.05,
not all that far from where it is today.
Shares at first sight would appear to be expensive. But, you can say
that for most of the successful junior oils. Shares aren't really expensive
when you consider what they have going for them. Based upon an
updated forecast mentioned in their 6 month report, they expect 1997
production of 140 mmcf/d of natural gas and 5,000 bbl's of liquids,
consisting primarily of natural gas liquids--- very little crude oil. These
numbers total 19,000 bbl's of equivilant oil. Current production is
75 mmcf/d and 3,000 bbl's of liquids, or 10,500 boe/d. Original 1996
production estimates were met last month.
They have many exciting plays, but the noteworthy one is the
Waterton play. They have a major deep well discovery and have
identified up to 5 further wells for drilling and are waiting for go ahead
regulatory approval. Each well has potential of producing 10 to 30
mmcf/d or, 1,000 to 3,000 boe/d.
There have been reviews or newspaper articles on the company which
have been posted here. When you next check Canadian Oils, click
on all replies and brush through them. The last TOP 20 PROGRESS
REPORTS can be found at replies 290/291/292.
I have analyst reports from the following institutions. They are dated
6-7 months ago at prices $2.50 to $3.25. Yes, the price has doubled
in a couple of cases, but their exploration efforts since have been
extraordinary also. These firms that cover the company are; Gordon
Capital Corp., Richardson Greenshields, Scotia McLeod and
Levesque Beaubien Geoffrion. In sequence they are dated Feb 16,
Feb 13, Feb 6 and Feb 14. I also have an older Nesbitt Burns report
on hand. There have also been very interesting articles in newspapers,
including Wall Street Journal, Financial Post, Calgary Herald and more
since the first of August.
There is just to much to comment on. Recommend you call the
company and request an investors package. Ask them to add the
following to the package. (1) Recent copies of analysts research
reports covering last 2-3 months (2) copies of any media reports and
stories on the company (3) most recent forecast reports which may
of been presented to financial analysts or any symposium. They will
accommidate you.
I'm going to leave the subject at this point, but I will be right back to
provide you with internet provided information on the company. Hope
I have helped you out a little on EEE. You might want to scan replies
for other ideas/companies to check into also. |
