Timeless Capital Corp V.TLC

First Q Top Picks 2012

[IvanVanBeethoven]

Here's an excerpt of PI financials' "1st Q Top Picks 2012" from Alistair Toward with sector overview/outlook and still ... a buy - recommendation for ACG: not much, but it's something

Anglo Canadian Oil Corp. (V-ACG, Target N/A, BUY, SPECULATIVE risk rating. Potential return – N/A) – down 57% for the quarter. The disappointing results from its fi rst Ante Creek Nordegg test well (“8-3”) has put considerable pressure on Anglo’s stock during the quarter. While successful in its objective of intersecting a highly fractured part of the targeted formation, the vertical nature of these fractures overwhelmed the targeted Nordegg horizon with water infl ow from a deeper horizon. With limited dry powder remaining ($5.2MM cash at year end) look for the Company to suspend capital intensive activity (including the completion of the 3-4 well) until such time as there is more industry data available and the appetite for risk improves. We continue to believe the Company is well positioned with 269 sections of Nordegg exposure and an enterprise value of ~$9MM.

https://www.doncromar.com/sites/default/files/users/DonCromar/Q1%202012%20Top%20Picks.pdf (page 10)

regards

Ivan