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

To: Cal Gary who wrote (18967)	4/16/2012 3:16:17 PM
From: russet	Read Replies (1) \| Respond to of 24927

Globe says Celtic, others could end up hurting 2012-04-02 07:53 ET - In the News Also In the News (C-AAV) Advantage Oil & Gas Ltd Also In the News (C-BIR) Birchcliff Energy Ltd Also In the News (C-PRQ) Progress Energy Resources Corp Also In the News (C-TOU) Tourmaline Oil Corp The Globe and Mail reports in its Monday edition that calculating "reserves" has taken on a sudden new importance for an industry in the throes of a pricing spiral. The Globe's Nathan VanderKlippe writes that every spring, energy companies update their reserves based on price forecasts done at the end of the prior year. A sudden drop in natural gas prices this year has raised question marks over the accuracy of the reserve figures that have been issued in recent weeks. Sprott Energy manager Eric Nuttall says a good part of Canada's natural gas reserves are overstated and many natural gas stocks are overvalued. Falling natural gas price could force companies into selling off their best assets. Mr. Nuttall believes the full import of weakening prices has yet to sink into the markets. He says, "There's a world of hurt coming ... but guys aren't afraid yet, which tells me we're not even close to a bottom." He says when Tourmaline Oil, now at $22, is at $18, when Progress Energy Resources, now at $10, is $8, when Birchcliff Energy, now $7.25, is $5, when Advantage Oil & Gas, now at $3.35, is at $2.50, and when Celtic Exploration, now at $14.50, "is at $12 -- that's when guys will be afraid."

To: Cal Gary who wrote (18967)	4/17/2012 8:12:08 PM
From: teevee	Read Replies (1) \| Respond to of 24927

With the recent convertible debenture financing done, CLT will survive low nat gas prices. Lots of dynamics here now: nat gas is dead money for a while, however, the best managed companies with strong balance sheets will either acquire or be acquired, and focus on oily assets. CLT could have more downside here, especially if industry sentiment calling for $.90-$1.00/mcf spot nat gas comes to pass. CLT is one of a handful with break even well under $1.00/mcf. It nat gas gets to $1.00/mcf, and that price is reflected in gassy stocks, I will back up the truck on this one.