Alexander Lane, B Comm, C
Bronco Energy
BCF-T
BUY
Jul 23, 2008
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.
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.