Groundstar Resources Ltd GRDSF

What Guyana is worth to GSA...

[myNEXTmillion]

From David Pescod's Late Edition,

CANACOL ENERGY (V-CNE) $1.62 +0.01
SAGRES ENERGY (V-SGI)
.61 +0.08
On oil analyst Warren Verbonac’s top play list, we see
Winstar Resources (WIX) hitting new highs as sometime
close to Christmas, WIX will have a taste of whether their
big Silurian play in Tunisia is working or not. And then
his top pick, Sterling Resources (SLG) will be quiet until
sometime in late February or March when drilling on the
Cladhan play hopefully can raise the resource number
from 93 million barrels to say, 250 million barrels as some
are hoping.
In the meantime the suggestion by Jason Bednar is
that K-2, the joint venture of Sagres Energy and Canacol Energy
should spud next week (Bednar is VP of Sagres and a
director of Canacol). Warren Verbonac suggests we do a
little math on this joint venture that is his number two
pick:
Take the mean estimate of the play in Guyana (120 million
barrels) and give SGI its 30 million barrel potential
share. Take that 30 millions barrels x $20 per value of oil
in the ground and divide by 150 million shares outstanding
and you can come up with a tasty target for
Sagres.

[For SGI, computes at $4.00 per share... For GSA, it's $3.00 / Share (120 x $20 / 80 million shares = $3]

Actually you could get just as excited about Canacol.
Take 100 million barrels x $20 divided by 500 million
shares outstanding and voila...excitement as well.
But this is still exploration and widows, orphans and
whiners shouldn’t be in a play like this because all of this
is just estimates and until two or four wells are actually
drilled to justify resource numbers, it’s all hypothetical.
And if the resource number is on the low end, say a mere
total for the project of 20 to 40 million barrels, considering
the remote location, well those numbers all go out the
window and you don’t cash a lottery ticket in this place.