Canamax Energy Ltd DTEYF

No cheapies today???

[zadman]

Was hoping for a few at 0.285 or lower.  Come on sellers, your running out of time before Sept drill results are disclosed. 

zad

[RTWODTWO]

What do you think about the drill results?

[zadman]

I havent seen any news on flow rates on the wells that were supposed to be completed by end of Sept.  Have you seen something? I am buying in advance of these results because if you believe these guys can do what they say they can, this is an INCREDIBLY cheap stock under 30 cents given their balance sheet and who is involved at the mgmt/BOD level.  Granted, I guess you do have to be

[RTWODTWO]

My guess is 600+Bbls/d IP30. Company values is $18,500 per flowing barrel. It's a steal for a company that can operate with oil at $45.

[zadman]

Im not sure about operating at $45 forever but they can survive for longer than most down here with their balance sheet. Their growth projections assume higher crude pricing which is a must to generate the cashflow to fund the needed exploration but as I said - I am in the camp that crude bottomed at $37 and is working its way up now.  Not straight up but I suspect surprises going

[RTWODTWO]

Oil at $60-80 would be something to work with for them. I think I see that they are more into hz wells now in Flood. Payout with oil at $70 is silly eight months. If oil is nice to us this will be a 5k+/day producer in a couple of years.