Angle Energy Inc ANGZF

RE: CIBC World Markets

[ElJ]

Yes, I agree that there is reasonable potential in Angle.  From the Angle  Q3, 2011 report:

 "Angle posted a 62 percent increase in revenue compared to the third quarter of 2010 due to the 40 percent increase in volumes along with a change in the product mix resulting in a higher proportion of NGL and crude oil volumes compared to natural gas, as well as the strengthening of NGL and crude oil prices."
 
However  NGL was sold by Angle at $34.11 avg. in Q3, 2011 and crude Oil at $93.96 per barrel, while NGas was sold at $3.88/mcf...... I expect that  Ngas will be at a  "lower price received" in Q4, 2011 - more like $3.45 is my estimate for Q4,2011.  My projection of probable diluted cash flow for year 2011 will be in the $1.27 per share region (note:
.93 year-to-daye for 9 months in 2011) ;  Debt to cashflow is a little on the high side but not unreasonable ; Market value plus debt/Q3 daily Production is in the region of $48,000  ;  cost of P+P bbl is $11 approximately ;  while Recycle Ratio(cashflow/F&D costs) is in the region of 1.35

Peace,
Good Decision-making to All,
ElJ