Laura Lau
Bronco Energy
BCF-T
DON'T BUY
Jun 30, 2009
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.
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.