OTCPK:BLKPF - Post by User
Post by
nowizon Jan 29, 2008 10:02am
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Post# 14279803
Tristone
TristonePXX.V - North American arm of the Lundin Group of E&P Companies. The company’s strategy is to identify, acquire and exploit heavy oil resources in North America. Pearl currently has key projects in Alberta, Saskatchewan, Montana and Texas. Pearl has amassed a heavy oil resource of over 4 billion barrels; to date, only 27 mmboe have been booked as reserves. Pearl’s goal is to prove the viability of its plays via the application of technology, such as CSS, SAGD, waterflood and polymer flood. Tristone analyst view: we estimate Pearl’s risked upside from its resource plays at $4.86/sh. On an unrisked basis, this increases by nearly three times to$14.67/sh. Initiating at $2.35/sh Target and Outperform.