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Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Christopher Loe who wrote (20140)	1/18/2005 10:36:50 AM
From: Christopher Loe	Respond to of 108683

IVAN, hate to bring that one up again, watching for now.eom

To: Christopher Loe who wrote (20140)	1/18/2005 10:43:04 AM
From: isopatch	Respond to of 108683

Chris. FA awa TA look good on CNR & EGY. Will try to post what I'm seeing in both analysis categories in some detail, a little later. Iso

To: Christopher Loe who wrote (20140)	1/18/2005 11:08:43 AM
From: la.dave	Read Replies (1) \| Respond to of 108683

If I may jump in here regarding CNR. If you analyse the FA, you may get nauseated and as far a TA, I haven't got a clue. What we have here is a small E&P with an aggressive drilling program for '05 utilizing Weatherfords UBCT rig to drill some 15 horizontal wells in an area of Georgia that had previously been produced by Russian efforts(antiquated) with vertical wells. So they(CNR) knows there is oil there and is betting that UBCT drilling will increase production by a factor of 10. In addition to this program they are also going to be drilling 3 wells on their Manavii prospect. At Manavii they are targeting a structure that wasn't plundered by the Russians. They drilled a well(M-11) into this structure and had oil, however during testing excessive pressure caused a collapse in production casing thus bringing it to a halt. They are now sidetracking M-11, so results could come at any time. Seismo of the structure indicates a possible Elephant, the bit will be the teller of the truth. To sum up FA sucks with recent massive dilution(which is funding this program) and TA may be relevant but as with all small E&P's it's the bit that will make or break 'em. Yea I know, it sounds like I'm in love but really it's just infatuation at this juncture. Now if Manavii proves out, I will be hopelessly in love. Their website provides much more clarity on their prospects.