STOCKCHASE

(Market Call Minute.) Playing in the North Sea and Argentina. Need a partner in the North Sea to develop their project.

2009-11-06

Comment

0.720

Laura Lau

North Sea oil. Found a big play called the Causeway. Royal Bank of Scotland is pretty well owned by the government and they were the biggest lender to the North Sea so capital is very constrained in the North Sea is a very expensive place to do business. Big question is do they have the ability to bring on production in a complex project in the North sea.

2009-08-14

PAST TOP PICK

0.670

(A Top Pick Aug 27/08. Down 74.53%.) All the North Sea players fell out of bed when Oilexco collapsed but this one is a survivor and is still in business. Leverage to the upside for oil is still very big. If you believe in oil, the leverage will be quite substantial.

2009-08-06

DON'T BUY

0.440

It’s just not getting any respect. Always thought this company would get taken over. It’s too late.

2009-04-30

TOP PICK

2.670

Can't believe what has happened to the stock price. Fully financed and have great assets in the North Sea and Argentina. A hedge fund in the UK has been putting pressure on the stock. Trading at 1.25X cash flow on a 1-year basis with the net asset value in the $6-$7 range. Looking for it to get back to its old high.

2008-08-27

Comment

2.560

John Stephenson

There is a cap on what they can get on oil/gas in Argentina. Also operating in the North Sea. Having 2 separate reservoirs it is hard to see how they can exercise their strategy

2008-08-22

Comment

2.650

Frederick Kozak

About ready to start drilling on the Fine field in UK North Sea. If successful, they will have enough information to submit a field development plan to UK government. Also developing Causeway that is scheduled for production around the end of 2009. Have about 18 months before they see first oil. Likes the name, management and prospects but the market may work against it over the next year or so.

2008-07-16

BUY

4.090

Great little company with assets in South America and the North Sea. Well financed. A great take over play.

2008-03-17

DON'T BUY

4.220

Reasonably positive. This is a junior oil company that has Argentinean production, which is relatively low. This is a country that has added higher royalties on to the producers. Also have some North Sea prospects that looks pretty interesting. A “wait and see” story.

2008-03-07

Comment

4.660

Weak last week because Argentina changed some of the tax royalty rates for oil/gas production and their cash flow is from Argentina. All the upside for this company is in the North Sea, where they have had some great success. Market doesn't understand the big potential. Thinks Oilexco (OIL-T) would like to take a run at this company.

2007-11-26

BUY

8.160

Jean-Francois Tardif

Not producing yet but they have a multitude of plays. Will be doing a lot of drilling and some of their targets are worth the stock price. Some of the targets are low risk and can justify the stock price. Risk/reward is very attractive.

2007-07-16

DON'T BUY

7.870

Bill Carrigan

If you own it, be careful and watch for the spike. Wouldn't Buy at this point.

2007-07-10

Comment

4.400

David Taylor, MBA, CFA

Very high risk. Doesn’t own in his fund, but owns some personally. Could be worth a lot or very little. Has low risk assets in Argentina and drilling is hugely successful. Also drilling in the North Sea. Has plans to spend hundreds of millions, but generating very little cash flow.

2006-12-18

BUY

3.880

Jean-Francois Tardif

Have an Argentina play where they are drilling and increasing production very rapidly. Also have another play in the North Sea where they are talking big numbers. Little riskier situation because stock currently doesn't justify current revenues and current profits. They are building up reserves. Could be double in the next couple of years.

2006-09-06

HOLD

3.870

A few weeks back, discovered a very nice oil well in the North Sea and the stock had a huge run and is now consolidating. Has a very good asset base in Argentina that supports the cash flow to the company. They are expanding and hitting some pretty good wells.

2006-08-28

BUY

3.650

Announcing some good results out of Argentina but these assets are not as valuable as their recent major find in the North Sea. They have a number of things they have to do to get it on production, which will be at 2/3 year time process.

2006-08-23

BUY

0.900

Bill Harris, CFA

Hit a big dry hole, so the stock fell off the cliff. Now that it's shaken out, feels that it's worth $1/1.10 on existing reserves. Still have a great exploration profile out there. Speculative.

2005-01-07

WEAK BUY

0.940

High risk/high reward type of company. Have about 450 barrels production in Argentina. Also drilling in the North Sea. Very speculative.

2004-12-29

DON'T BUY

1.020

Joseph Schachter

Not comfortable with this story. Feels that there is $0.50 of hard value to the story.

2004-11-08

BUY

2.090

Farmed out about 2/3 of their holdings rather than risk their capital. Good strategy.

2004-09-24

BUY

1.540

Peter Linder

The only international Junior that his fund owns. Drilling a very high impact well in the western part of Australia. If they hit, it will be a $20 stock. Risky, but lots of upside.

2004-08-19

BUY

1.000

Have just announced that they have hired a rig and will drill their Western Australia offshore properties. A good speculation.

2004-04-26

BUY

1.000

Have a lot of international prospects in front of it. A good portfolio of exploration exposure.

2003-11-05

WAIT

1.100

The next big upside will come from prospects off the coast of Northwest Australia. Had a dry hole in a high potential well in Tunisia. Wait for announcements on potential drilling dates. Have strong prospects.

2003-10-27

DON'T BUY

0.960

High risk/high reward. Very speculative. Their reserves are in foreign countries.

2003-01-28

BUY

1.030

David Cockfield

Not a big fan on offshore stocks, but not a bad speculation. Could double if they get a hit in Indonesia.

2003-01-24

BUY

1.250

Speculative. Major prospects on global drilling.

2003-01-08

TOP PICK

1.000