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Canadian Spirit Resources Inc V.SPI

Alternate Symbol(s):  CSPUF

Canadian Spirit Resources Inc. is a Canada-based natural resource company. The Company is focused on the identification and development of opportunities in the unconventional natural gas sector of the energy industry. The Montney is an oil and gas play in North America and has reservoirs in Western Canada. The Company's significant land base is strategically located along the pipeline infrastructure that delivers natural gas to the proposed liquefied natural gas (LNG) facilities on the West Coast of British Columbia. The Company is engaged in the exploration and production of natural gas in the Montney Formation of Northeast British Columbia.


TSXV:SPI - Post by User

Post by earlybird_787on Nov 26, 2008 5:52pm
540 Views
Post# 15612709

Normal Course Issuer Bid

Normal Course Issuer Bidhttps://biz.yahoo.com/ccn/081126/200811260499663001.html?.v=1

"The Bid, which is subject to Exchange acceptance, would consist of theacquisition by CSRI of up to 1,000,000 common shares of its capitalstock, representing 2.1 percent of the 48,675,401 common shares of CSRIissued and outstanding".

"CSRI is of the opinion that recent trading does not reasonably reflectthe strong working capital position of the Company, the current andplanned capital spending by its joint venture partners on the Gethingand Montney Formations in northeastern British Columbia nor the valueof its material land position in the Farrell Creek area".

I could not agree more with above statement. Management has made an excellent decision regarding the use of a small portion of the excess cash on hand.

Hopefully we will see an uptick in share price over the next few days. However, success with the drill bit will be the catalyst for any significant uplift in the share price, over the long haul.
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