GREY:ANGZF - Post by User
Comment by
ottscaron Mar 23, 2010 2:10pm
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Post# 16914527
RE: Angle Q4 Results
RE: Angle Q4 ResultsHi Baxter
I too think the results looked okay. I haven't found anything about low quality of certain Cardium plays and have in fact been accumulating stock in some others there too, particularly Midway (MEL). I think the problem right now is that gas is down bigtime, approaching 4$, and this gets lumped in, even though they are making headway in changing their focus more to oil and NGLs. Angle also got hurt bad by the royalty changes last year, more than many others. They also stand to gain a lot when the new rules come into play in 2011.
I'm still going through the numbers, but I see big increases in wells to be drilled in 2010 and a corresponding increase in capital spending. I suspect that other analysts may be doing the same thing, and the share price could recover once they see what's happening. The recent drop in gas prices caused a lot of selling overall, and this just got caught up in it.
By the way, what other board have you seen this on? I haven't been able to find a lot of commentary on it.
Regards,
Ottscar