Daily Stock Opinions and Ratings

Opinions

Glenn MacNeill, P.Eng. Bronco Energy BCF-T WAIT Mar 07, 2008

(Q: Did they get approval to draw off the water from Stone Cree Nation reserve?) Doesn’t know. They need water in order to develop the in situ production they will be working on. They have about 87,000 acres in the Alberta Oil Sands, which translates to about 4 billion cubic feet of oil. Of course a small percentage of that is obtainable. Wait until there is some production, which is expected this year.

Glenn MacNeill, P.Eng.

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$11.590

Stock price when the opinion was issued

oil gas

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BUY ON WEAKNESS

(Market Call Minute.) Heavy oil and should be producing very shortly. Production should grow very rapidly.

BUY

(Market Call Minute.) Very well positioned. Has a lot of runway with regards to drilling prospects going forward.

BUY

Had experienced some delays and facilitate constraints in production. The play itself makes a lot of sense. Could get to $15-$16 on success of execution. If you believe in heavy oil and the differential, which is very narrow right now, management is one of the better ones.

PAST TOP PICK

(A Top Pick July 31/07. Up 4%.) Have about 4 billion barrels of oil in the ground. Takeover candidate. Still a Buy.

BUY

Large group of assets all cordoned off. Getting it on production. Production increases expected to be fairly dramatic.

SELL

Heavy oil in Alberta. Looked quite promising in 2008. Have always had problems with water. Debt is an issue.

DON'T BUY

New management team raised a convertible debenture. An issue would be their asset base. It will be a struggle as other companies have tried to drill it up but have abandoned it because of too much water.

SELL

(Market Call Minute.) Thinks their asset base is very challenged.

COMMENT

Have a lot of barrels but they are difficult and uncooperative barrels because they get a lot of water in their production. It will be a challenge.

DON'T BUY

Painful to look at the chart. Shows why it is important to invest not just in an asset but in the people. He rode it up and rode it down and sold it.

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Glenn MacNeill, P.Eng. Bronco Energy BCF-T WAIT Mar 07, 2008

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