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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?


To: Spekulatius who wrote (49572)9/26/2012 11:22:13 PM
From: Paul Senior  Read Replies (1) | Respond to of 78478
 
BCC: "small E&P listed in Australia and doing business in Alaska=red flag, imo."

Not sure what you are saying here. If regarding Australia and Alaska, I don't know of any other Aussie e&p companies exclusively there, and no issues of fraud there that I can find. If you mean dinky Australian e&p companies operating in USA in general -- Bakken, Eagle Ford, etc. -- there could be fraud issues, I don't know. I can't find the fraud issue with MPO.ax. Company is still around-- maybe as you say not doing well -- but not falling off a cliff now either: finance.yahoo.com

Still, we could say, given its business (e&p) and price (6 cents), BCC's not a stock for most people. Yellow flag -- caution -- maybe -- for those of us who are buyers. I like that BCC is in partnership with the state of Alaska for their drill rig. One hopes that Alaska officials have done due diligence before funding and joining BCC. Of course, who has faith in the honesty and competence of government officials anymore?