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.

Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: rubbersoul who wrote (126510)	8/1/2008 8:15:13 AM
From: Condor	Read Replies (1) \| Respond to of 312908

Globe says Oilexco seen as underwater gem Oilexco Inc (C:OIL) Shares Issued 221,616,827 Last Close 7/31/2008 $16.33 Friday August 01 2008 - In the News The Globe and Mail reports in its Friday that Shauna Sexsmith, who manages the Manulife Canadian Equity Fund, has a hard time understanding why Oilexco is not trading for more than its current $16.33. The Globe's Angela Barnes quotes Ms. Sexsmith as saying, "It makes no sense; the stock is worth $30 based on the earnings and cash flow numbers alone." She guesses Oilexco may have been lumped in with other North Sea oil plays, some of which failed. Unlike some of those other plays, Oilexco is doing well, with production expanding from virtually nothing a year and a half ago to 23,000 barrels a day this year and 52,000 next year. Ms. Sexsmith expects the company to earn $2.10 a share this year and $4.24 next year. Over all, she notes that energy and materials sectors have recently sold off, but she remains a big fan and is continuing to overweight them in the Manulife Canadian Equity Fund. "I still think it is the right long-term positioning," said the vice-president and senior portfolio manager with MFC Global Investment Management. "I think the long-term secular direction still favours energy and materials and not the financials." She notes analysts continue to increase profit forecasts in the energy group. © 2008 Canjex Publishing Ltd.