Silicon Investor (SI) -- The First Internet Community

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.

Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: The Osprey who wrote (7742)	10/22/2000 11:57:39 PM
From: The Osprey	Read Replies (1) \| Respond to of 24905

OEL on CDNX.....For info purposes.This is a report from the OEL thread but felt people will be interested in watching this over the next few days.I took the time to summarize this up and coming agressive little oil and gas company which I have followed since they had nothing. To: Osprey who wrote (584) From: Osprey Sunday, Oct 22, 2000 11:20 PM ET Reply # of 585 Just reviewed the news releases regarding OEL.V to try and piece this all together and here is what we have had reported thus far in news releases: 1)Feb 10/2000---Company announces 5 well program in Southern Alberta with 5% working interest to OEL 2)Mar 2/2000---Company announces it is paying $300,000. for a 30% interst in The Livingston Field 3)May 15/2000---5 well program announced Feb 10/2000 increased to 12 well program with 8 horizontal and wells are expected to produce 175-200 BOPD per well with OEL having a 5% working interest.(wells were to be tied in by the middle of August)Also company reported Livingston producing in excess of 160 BOPD and engineering work on Weyerhaeuser scheduled to commence in June and will double the current production.Company also announced awaiting approval of the Bayou Choctau acquisition 15% with ROFR on additional 30%.Company expected 4 oil and gas wells to be tied in by the end of June. 4)Aug 18/2000--- Osprey to acquire additional 45% interest in Bayou Choctau field bringing total interest to 60% after reviewing well logs and 3D seismic.Pays $300,000US for the interest and reports property is producing in excess of 100 barrels per day from 3 wells that it reworked.It also stated 8 additional wells are to be brought on by year end and each well projected to produce 75 barrels of oil per day each.Company will receive 100% of net revenue until payout is received and then 60% thereafter.Compay also reports Jenner property in Alberta(12 well program) are in production and cash flow positive.Livingston in production as well and awaiting fianl approval of Cotton Valley Property(not yet named)Particulars released when final approval obtained.(Approval obtained October 20/2000 after market close) 5)Aug 29/2000---Company announces details of Louisiana property.Will pay 1 million for 75 percent interest before payout and 50% after payout.9 Austin Chalk wells one salt water disposal well and 3 Cotton Valley wells.1 well being operated by Anadarko Petroleum and producing 200 thousand cubic feet per day of gas.Company says 5-6 wells to be in production by end of September with each well to produce 40-60 barrels per day and 200 thousand cubic feet of gas each of gas during testing.All wells are drilled and equipment necessary to commence production came with the deal and all wells are tied in.Production will increase once testing and remedial work is complete.Company also said Bayou Choctau, Livingston and Jenner property in Alberta are all cash flow positive and once Joint venture statements are received further particulars will be released. 6)Sept 12/2000---Company reports additional 6 wells in Cotton Valley Field in production.Anadarko Petroleum is operating the Giddens well and currently producing 200,000 cubic feet net to Osprey.BPR energy is operating Crowell 3,Crowell 7, Temple 16, Crosby 24 and Bailey 32 which are producing 185 barrels per day and 650,000 cubic feet of natural gas per day.Pool 1 is producing 50,000 cubic feet per day.Production to be increased once remedial work is completed on each well.Engineering reports show reserves in excess of 2 million barrels oil and 12 billion cubic feet of natural gas.Company says three Louisiana properties are producing in excess of 350BOPD and 1 million cubic feet natural gas. It also says Jenner No 1 and Jenner number 2 producing positive cash flows. 7)Oct 20/2000---Company receives approval of Northern Louisiana/Cotton valley field. Now I presume that since the exchange issued the release the company will respond with an update on all the properties as they are now all approved.I am waiting with baited breath. The Osprey EDIT: I just noticed with the info the company reported thus far they have approxiamately this production and all info is on the low side I presume as all the releases said they would be increasing prodution. Jenner-- 8 wells at 200BOPD X 5%=90BOPD approx Livingston--160 BOPD but expected to double= 160BOPD Bayou Choctau--100BOPD to increase to 600 by year end=100 Cotton valley--335 BOPDE from 185 bopd and 900,000cubic feet of gas= 335BOPD Totals =90+160+100+335=685BOEPD X 30.00US X 340 days production X150% (for canadian conversion)=$10,480,500 divided by total outstanding shares of 5,322,000=1.96/share cash flow on total outstandings.If one uses fully diluted(PP stock, warrants,options and debenture conversion)11,500,000 you still get cash flow of .91/share.Applying a multiple to that of a conservative 3 to O/S stock you get $5.88/share and based on fully diluted you get 2.73/share. Let's see if the company is higher than this level they have reported thus far.

To: The Osprey who wrote (7742)	10/23/2000 12:31:16 AM
From: Richard Saunders	Respond to of 24905

OSPREY - Asked you before on Sept. 28 (post #reply-14472084) about the FUNDAMENTALS re: your OEL-cdnx. Price then was between $1.61 and $1.71 No response was obtained so here goes again..... Price closed on Friday at $1.10 & at the end of the note I've linked all price/volume data for this year. -=--==-= To: Osprey who wrote (7627) From: Richard Saunders Thursday, Sep 28, 2000 10:42 AM ET Reply # of 7742 Osprey re: Osprey. Why, BASED ON FUNDAMENTALS, do you suggest taking a look? Agree that it's very volatile, thinly bid at times and possibly a great trading vehicle for quick flips, etc. however am totally baffled by fundamentals. OEL isn't your "traditional" oilpatch co. which is maybe good or maybe not. Co. is based in Nova Scotia and main focus (and promotion?) is more south-of-the-line stuff. In the old V.S.E. days the company would be right at home among many other peers. Do you have any other possible situations that are Alberta-based and trying to grow in the Western Cdn. Sedimentary Basin before heading to Texas or wherever? Companies that have mgmts. that have proven years of experience building and creating LONG TERM shareholder value? Does OEL fit into that type of situation? =-=-=-=-=-=- It's obvious that you like OEL based on your past posting history. What is cashflow estimated at and what assumptions are being used (production, commodity prices, etc.?). What are operating and general&admin. expenses running at when calculated on a per barrel basis? Debt? I know, data's all filed at SEDAR if someone wants to look, etc. but you can tell us. How about people? cdnx.ca Directors - much oil&gas experience? The price is volatile & as you note total shares out make for rapid moves both up and down. The chart tells the tale and all along you've been posting the buy, buy, buy theme. Compared to early in the year today's pricing is good however that can also be said for the majority of o&g situations....... quote.stockwatch.com I do agree with you that at the $1.00'ish level the chances for capital gain are probably a lot better than they were a couple of months ago (duh!) however with the number of news releases, etc. I keep wondering about the fundamentals. A bona fide long term growth possibility or just another stock play where timing is everything?.......... Another case of "jack be nimble"? quotescanada.com Final trivia - Mr. Malone's timing would seem to also be good as insider reports at BCSC show he was selling a few shares betweeen Sept. 8 and Sept. 12 at prices between $2.06 and $2.45 True, he was also a buyer for a few more shares just a couple of weeks later however question still remains - stock play or fundamental growth story?