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Randall Abramson Corridor Resources Inc CDH-T TOP PICK Dec 08, 2011

(Top Pick Oct 27/11, Down 23.17%) Drifted off on indiscriminant selling. Zero bad news. In fact terrific news last week. New Brunswick. Believes it is crazily valued below $2. More than $10 of asset value. No debt and cash on the balance sheet and cash flow from small production base. $3 of proven reserves. Get price higher into New England.

Randall Abramson

Owned

Unlock Rating

$1.980

Stock price when the opinion was issued

oil gas

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PAST TOP PICK

(A Top Pick April 26/10. Down 2.46%.)

PAST TOP PICK

(A Top Pick April 26/10. Down 7.7%.) In New Brunswick with a couple of large resource plays. Hit a dry hole but are trying to sort it out.

DON'T BUY

Has had a tough go. Drilled two wells and results were inconclusive. They are left 100% in the play, which is very capital intensive. It could go either way. They want to drill two horizontal wells into the play while looking for a new joint venture partner.

TOP PICK

$3 of value in their reserves, trading at 2/3rds. Drilled two well that were successful.

DON'T BUY

In the small cap space it is so easy to be wrong. This is a company that has been experiencing negative change. Nat Gas has been a tough place to be for a long time. Stay away until the sector gets better.

PAST TOP PICK

(Top Pick Dec 8/11, Down 55.15%) Have an oil project that should attract a partner in next 60 days.

PAST TOP PICK

(A Top Pick Dec 8/11. Down 57.57%.) Still likes. Very cheap. Has been hurt because of the atrocious gas prices. Have 3 significant plays, one gas and 2 potential oils. Expect they will have a partner for some of these.

BUY

(Market Call Minute.) This is a long-term project in Quebec, and the government has put in $50 million.

COMMENT

He considered taking a run at it at $0.40. It has money in the bank, no debt, he likes what the management is doing. The absence of debt limits the downside risk, making this a reasonable spec, but he doesn’t see much momentum at this time, partially because of regulatory issues.

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Randall Abramson Corridor Resources Inc CDH-T TOP PICK Dec 08, 2011

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