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Pastimes : Crazy Fools LightHouse -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (419)	9/22/2005 2:39:04 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 3198

David Pescod's Late Edition September 2, 2005 CHURCHILL ENERGY (V-CEI) $2.18 +0.10 Ray Dobek is the number two guy and chief oil finder at Accrete Energy, an oil and gas junior that has had an absolutely enormous year because of their leverage. They didn’t print a lot of stock and shareholders have got to be ecstatically happy about that. Today we touch base with Ray who makes Peter Salamon look so good. We are looking for his take on the oil and gas sector right now because we’re going into the shoulder season (in September and early October, oil stocks usually have a retreat). Dobek does not think that will happen this year. He looks at what’s going on in the industry and from his point of view says that all the companies that were looking to sell themselves, are suddenly expecting much higher valuations given the current oil prices. He believes that for the next three or four quarters, oil is going to remain at historically high levels and feels that a person couldn’t have too many shares in oil and gas companies. He reminds us that Accrete was started with a 2-year game plan and they are now into their fifth quarter, so a buyout down the road would not come as a shock. Needless to say, we ask him to make a couple of stock picks for us. We find his first pick of Churchill Energy intriguing... and if you do a little homework here (which I suggest you do) you’ll understand why. (There’s always a chance he might be right). Meanwhile for those looking for a spec, he suggests you take a look at Route1 (ROI $0.30) for their movement of data, in a totally different sector. Churchill Energy www.churchillenergy.ca SKYGOLD VENTURES (V-SKV) $0.81 +0.01 As we’ve mentioned many times, the junior mining sector so far this year has simply been a disastrous place to be. Other than Virginia Gold Mines and Bear Creek Mining, there has been very few successes and so many juniors have lost you 50% to 60%. It’s been ugly. One developing story that has created a bit of a buzz and a lot of hope on Howe Street has been Skygold Ventures and it has attracted the interest of the Coffin Brothers of the Hard Rock Analyst who have been one of the few analysts able to pick some winners. Yesterday Skygold announced some drilling results including Hole-254 that returned 49 meters of 1.6 grams per tonne gold. The Coffin Brothers write in the HRA, “the most important aspect of the results today is that they confirm the much deeper potential that had been previously tested.” The Coffins are moving Skygold from an “accumulate” to “speculative buy” outlook. However, Eric admits that these grades aren’t on average as much as the 1 1/2 grams that they had been hoping for. Remember, this is B.C., where one pays hefty tax rates and has very enormous labor rates. The same grades in Arizona would have been much more economic. This is still an ongoing story, which has delivered large intercepts, but the grade is still the question. Skygold Ventures www.skygold.ca Panic at the Pumps We’ve learned in the last couple of days, that while there may very well be an economic and very human disaster happening in New Orleans, we are learning just how inter-connected the oil and gasoline business can be. While there is talk of running out of gas in Atlanta and big-time production problems in the Gulf, who would have thought that there would be problems in Edmonton? After all, right beside Edmonton are some of Canada’s biggest refineries and we’re just a couple of hours drive from the huge oil sands at Fort McMurray, where the reserves there (as a producer) may make Saudi Arabia look a mere pip squeak. Then you get into the madness of crowds. Radio stations in Edmonton were lousy with talks of oil prices rising here, so sure enough, everyone was lining up like crazy to top up their tanks on Wednesday. Debbie (of Deb’s Ditty fame) drives into work early on Thursday and decides she should fill up on fuel. The first big Esso station she goes to, she is surprised to see no one there. Then she finds out that there’s no gas to be had from the people who had lined up the day before. She goes across the street to the Shell station ... nothing left there either! Amazing, but when crowds act a certain way, even in a place where oil and gas is plentiful…(and it will be again soon) peoples hording instincts can still amaze us all. DEB’S DITTY: How To Call The Police (True Story) George Phillips of Meridian, Mississippi was going to bed when his wife told him that he’d left the light on in the garden shed, which she could see from the bedroom window. George opened the back door to go turn off the light, but saw that there were people in the shed stealing things. He phoned the police and told them that there were burglars in his shed. The officer asked, “Is someone in your house?” and he said no. The officer replied that all patrols were busy, and that he should simply lock his door and an officer would be along when available. George said, “Okay,” hung up, counted to 30, and phoned the police again. “Hello, I just called you a few seconds ago because there were people in my shed! Well, you don’t have to worry about them now because I’ve just shot them all.” Then he hung up. Within five minutes three police cars, an Armed Response unit, and an ambulance showed up at the Phillips residence. Of course, the police caught the burglars red-handed. One of the Policemen said to George: “I thought you said that you shot them?!” George said, “I thought you said there was nobody available!” If you would like to receive the Late Edition, just e-mail Debbie at debbie_lewis@canaccord.com