Pescod on Verbonac on WIXExtracted from Today's StockTalk Late Edition
WINSTAR RESOURCES (T-WIX) $ 5.30 -0.21
Obviously, oil and gas analyst Warren Verbonac, of Union
Securities is made of much tougher stuff than we are, as two
of his three top oil and gas stocks have significant news out
in two weeks, and he says he is “sleeping like a baby.”
.
The other play that isn’t causing Verbonac any loss of
sleep is Winstar Resources for their Silurian play in Tunisia.
Yes I am sure if you have had the TV on its impossible to note
that many of the oil and gas companies in Egypt and Tunisia
have taken a bit of a thumping in the last while.
In the last few days we have seen TransGlobe Energy
(TGL) and others bounce back, but whether there is going to
be new rules for the oil and gas companies in those two
countries we don’t know yet. We do know that those oil and
gas companies do need the royalties from the sector.
.
Winstar is drilling in an area where the Silurian plays have
delivered wells doing 4 to 5 thousand barrels a day on 80 percent
of their locations in the area they are currently working
on so results like that could mean Windstar would see their
production almost triple and then they have another 10 targets
to drill. In other words, this could be a company-maker
for Winstar. Again, Verbonac is not losing any sleep...we are.