ADE and OIL FYI.Energy: OILEXCO Forum
SUBJECT: Schacter Thinks a NR is immenent Posted By: MaxPowerJr
Posted Time: 10/14/05 16:59 EST
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David Pescod's Newsletter today. Note that Schacter thinks the NR may come this weekend
""He suggests that we are within hours or probably sometime
this weekend of Oilexco finding out whether their joint venture
with Nexen on Black Horse is a hit or a miss.""
*OILEXCO INC. (T-OIL) $4.20 +0.12
ADULIS RESOURCES (V-ADE) $2.14 +0.04
If you’ve been watching the oil and gas sector for the last while,
that means you probably took in Josef Schachter’s presentations
on ROB-TV from time to time. That means you are aware he suggested
October is traditionally not a good month for oil and gas
and he predicted a sell-off. And it’s been an ugly one! When we
talk to him today, he suggests that “yes, it’s been painful—brutal
in fact” but he figures that there is probably one more waterfall
left.
When we look at the TSX Energy Index, which is currently around
289 after stumbling from around $340, he suggests he wouldn’t be
surprised to see one more ugly week taking us down to about 260
on the index. At that time he suggests, that’s when you back up
the truck and load yourself up with oil and gas stocks. One has to
remember that Schachter is incredibly bullish on oil and gas and
maintains that the index (to your left) will be at 1000 by the decades
end. That’s bullish!
As far as particular stories, he suggests that the sell-off by month
end could see Canadian Natural at $40 (that would be a great buy)
as would Suncor at $54, UTS under $4.00 and Nexen at $42.00.
He had predicted some of the sell-off. He admits that he is in
cash and looking to do some buying himself. While there has
been a brutal sell-off of all types of oil and gas companies, he suggests
that one sector that has been very hurt has been the internationals.
He figures that Niko Resources is even now representing
tremendous value and he figures Centurion Energy at $11.50 is
doing the same.
As far as some of his top, more speculative stories, little has
changed. Adulis Resources (when his average cost is $1.70) remains
a top pick as does Sterling Resources (his cost $1.20).
Then we get to one of his favorite stories (and one of ours) -
Oilexco. He suggests that we are within hours or probably sometime
this weekend of Oilexco finding out whether their joint venture
with Nexen on Black Horse is a hit or a miss.
Schachter calculates that the net asset value for Oilexco based
on Brenda is probably $7.00 U.S. per share and Black Horse,
should it work, could add $5.00 U.S. Should it be good he says
Oilexco could pop to $5.50—$6.00 almost immediately, despite the
ugly market. His own price on Oilexco is between $4.03 and $4.04
a share.
For those who haven’t yet taken a really good look at Oilexco, we
believe Fred Kozak’s report out of Haywood is still the definitive
work. Contact Sandra at sandra_wicks@canaccord.com if you
would like a copy.
October 14, 2005
Oilexco
Adulis Resources
www.oilexco.com
www.adulisresources.com
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