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| SELL | 0.680 | Eric Nuttall | (Market Call Minute) Concerned about stability in Iraq. | 2012-01-24 | |
| Comment | 0.800 | Jim Huang | Early stage exploration. Have production, which they're not getting fully paid for. Feels Kurdistan is a high risk region. | 2011-11-14 | |
| BUY | 0.465 | Alice Tsang | Really likes this stock at current levels. A lot of majors are trying to get into Iraq and costs are substantial just to buy land leases that this company already has. Significantly undervalued. Now licensed to bring on 2000 barrels of production and to exit the year at about 5000 barrels. | 2011-09-29 | |
| DON'T BUY | 0.470 | Jeff Parent B. Eng. FCSI | This stock looks poor. Stock had a big spike in a pullback and this is indicative of news but no follow on news. | 2011-08-22 | |
| Comment | 0.510 | Hap (Robert) Sneddon FCSI | Oil drilling Kurdistan region of northern Iraq. Chart shows a long base forming from early 2010. Oil is off 17% and the next step is $80. Technical analysis does not work as well on smaller cap stocks because something can change so significantly. Using fundamentals is probably as good a tool. | 2011-08-08 | |
| DON'T BUY | 0.540 | John Stephenson | Doesn’t like the name. He likes the resource, however. Stock reflects concern about fiscal and political risk. | 2011-07-18 | |
| DON'T BUY | 0.620 | Jim Huang | Drilling for oil in northern Kurdistan and-Iraq. Suffered a series of operational setbacks. There are issues as to whether or not they will get paid. In a precarious cash situation and 1 or 2 more wells drilled and they'll be out of cash. High risk. | 2011-07-13 | |
| DON'T BUY | 0.630 | Jeff Parent B. Eng. FCSI | Stock has been going sideways for such a long time that there is nothing impressive about this. There is obviously some recent news giving it some volume but there is nothing really exciting about it. Would wait for it to break out to possibly and $0.85 level. At $0.85 there is more conviction indicating more buyers. | 2011-07-04 | |
| BUY | 0.620 | James Hodgins | Went a number of years where they were more unsuccessful in their drilling, but recently hit a good well. There is a lot of oil there and they are elephant hunting. He is now looking at this one. Likes it here. | 2011-06-27 | |
| WAIT | 0.770 | Jeff Parent B. Eng. FCSI | Has been going sideways for some time. Breakout from $.58 to $1. Avoid this stock because it will probably come down $0.70. Follow the news. If it goes below $0.70 it will probably go back down to $0.60. If there is positive news, there will probably be a nicer trend. Right now it’s a one day wonder. Wait until it hits a dollar. | 2011-06-07 | |
| TOP PICK | 0.570 | Joseph Schachter | (A Top Pick Feb 22/11. Up 4%.) Kurdistan. In the process of finishing a well in the next week or two. Talisman is a partner and will be bringing a rig to drill in the 4th quarter. Have $0.35-$0.40 of cash. Look for news in the next couple of weeks. | 2011-05-10 | |
| Comment | 0.540 | James Hodgins | This is elephant hunting looking for oil in Iraq. Have billion barrel targets they are going after but the wells they drill are very expensive, so have had to continually come back to the market for refinancing to continue exploring. Interesting speculation. If they hit then the stock will go materially higher. Odds are probably 1 in 4. | 2011-04-21 | |
| PAST TOP PICK | 0.510 | Joseph Schachter | (A Top Pick Feb 22/11. Up 2%.) In the process of drilling an important well, Sarqala in the Kurdistan region of Iraq. Should get to the total depth in about 2 weeks. Recently raised $40 million so the balance sheet has got firepower for the drilling. This will be followed by other wells. Have 4 high impact plays. Higher risk but rewards are worth it. | 2011-04-14 | |
| TOP PICK | 0.500 | Joseph Schachter | Kurdistan. Had a well with massive pressure problems that cost over $100 million. Now in the process of drilling 2 wells that are higher up. Talisman (TLM-T) is drilling just to the north of the Kootinan(?) and will bring the bigger rig down to drill. If any of these plays come in, he can see $3-$5 NAV being created. Not enough money to complete their program but are in the process of raising it. | 2011-02-22 | |
| DON'T BUY | 0.920 | Jennifer Stevenson | Purely an expiration stock. Everyone was waiting for their latest drilling results but they did not have the equipment to hit their zone of interest. Trades on sentiment and noise. | 2010-02-16 | |
| Comment | 0.790 | Peter Imhof | A “show me time”. Trying to hit massive targets in Kurdistan. Will know in the next few weeks. If there is a discovery it will be very large and the stock will react very positively. Speculative. | 2010-02-11 | |
| SPECULATIVE BUY | 0.810 | Mason Granger | 40% working interest in fairly under explored areas of Iraq. Issues include Government and how do you get the oil out of the country. Fully funded for 3 wells and they are on their second. | 2010-01-05 | |
| DON'T BUY | 0.580 | Glenn MacNeill, P.Eng. | Based in Kurdistan and the western part of Iraq. Very prolific production basin geologically. Biggest problem is difficulty in understanding government policy. Political risk is high. | 2009-12-07 | |
| Comment | 0.720 | Laura Lau | (Market Call Minute.) A lottery ticket. | 2009-11-18 | |
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| DON'T BUY | 0.790 | Glenn MacNeill, P.Eng. | Like a lot of oil companies in Kurdistan it has a great geological basin to drill in. Finding reserves is only part of the problem. If they are successful how do they get it out, how do they put it in the pipeline and how do they turn it into cash flow? | 2009-11-06 | |
| PAST TOP PICK | 1.760 | Joseph Schachter | (Top Pick Nov 14/08, Up %155) Drill well right now. Looking to find 500 Million bpd. There has been a lack of news recently. Buy on weakness below $1.50. A risky play for some. | 2009-10-20 | |
| BUY on WEAKNESS | 1.810 | Joseph Schachter | If there is an oil price correction as expected you might see the stock below $1.30. If the stock has not corrected by end of September, early October then you want to be a buyer | 2009-08-21 | |
| Comment | 1.610 | Laura Lau | Drilling in Kurdistan but doesn't see them finishing until the fall. Partnered with Talisman (TLM-T). Once they have finished their have to apply in order to export the oil. Because of this she doesn't see them being profitable this year. Could be a takeover target. | 2009-06-30 | |
| Comment | 1.610 | Alexander Lane, B Comm, C | Have assets in Kurdistan. Regional government signed an agreement to export oil out of the country. Speculative. Little bit ahead of itself in terms of fundamentals, but if you believe this country is going to be an oil-producing power, this is an interesting way to play it. | 2009-06-29 | |
| WAIT | 1.750 | Andrew Cook | Drilling in Kurdistan. Sold his holdings when he thought it had been overbought. Partnered with Talisman (TLM-T). If Talisman hits something this stock will get a significant lift. Likes it from a longer-term perspective. Higher risk/reward equation. Wait until the summer and buy at a lower price. | 2009-06-17 | |
| SELL | 0.720 | Joanne A. Hruska, CFA | Market Call Minute. Drilling expensive wells. | 2009-04-15 | |
| SPECULATIVE BUY | 0.680 | Joseph Schachter | $130US million cash and no debt. Large land block in Kurdistan. Drilled 1st well and pressures were so high the mud systems couldn't handle and couldn't get a conclusive test. Will go back and try again. Starting to drill a 2nd well end of April/early May. Talisman (TLM-T) is their partner. Home run potential. Will spend $30 million on the well. 60% they pay for with the rest from Talisman. If they hit he has a target of $3.70. High risk. | 2009-04-06 | |
| Comment | 0.430 | Michael Smedley | Straight punt in one of the best richest oil areas in the world in Kurdestan. Just hit a bad hole so they need a good hole somewhere. Risky. | 2009-03-17 | |
| TOP PICK | 0.690 | Joseph Schachter | Probably the highest risk story of his 3 Top Picks but there are some downside protections. Sitting on cash of over $1 a share. With Talisman (T-T) as a partner they are drilling a well in Kurdistan. Kurdistan from an exploration point of view is fabulous with a lot of oil to be found there. | 2008-11-14 | |
| TOP PICK | 2.520 | Joseph Schachter | Drilling Sargala 1 and should be down in the mid part of December. These fields could be 200 million to 500 million in barrel targets. Have over $180 million in cash and Talisman (TLM-T) as a partner. | 2008-08-26 | |
| Comment | 2.580 | Joseph Schachter | Oil in Kurdistan. Already drilling and already have a rig. They will be at target depth in September. | 2008-07-25 |
