Centurion Energy International (CUX.TO) Buy,…

Centurion Energy International (CUX.TO)

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HOLD

Thinks this one has now bottomed. There was a lot of concern over then hitting their production numbers. They came out with 41,500 barrels yesterday and the stock has started to recover. Have a very big well coming out in the next couple of weeks.

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BUY

There are so many things going on with this company. Spent a lot of money last year on high risk exploration and there is no way to put a pin in the value. You need to bring a gas/oil well on and have it run for six months before you can get an assessment of what the oil pool is. If things work out, 2006 should see $20.

DON'T BUY

Located in Egypt and he is not as familiar with the geology there. Was never comfortable with how they were going to make money in the long run. Things are probably cloudy because there is no good news out there.

BUY

Has a discount for being an overseas asset. Also, it's a gas producer and there is a lot of gas globally. Bringing on production quite smoothly.

TOP PICK

For the last 6 months has been putting in new plumbing, so they haven't really been exploring. The new facilities are coming on now and they now have 4 rigs in the field working, so they will be starting to do more exploration. Also have a big well with Petro Canada (PCA-T) offshore Tunisia which will be very material.

BUY

Like most of the international oils, has fallen quite sharply. Looks like pretty decent value.

BUY

It should get better than it has been in the last 6 months. Huge putting on of barrels of gas. Price of gas in North Africa is loweer than here, so North American analysts don't like it too much.

COMMENT

A premium is being paid for North American producers rather than International producers because of geopolitical risks. Nothing fundamentally wrong with this company. Seem to be expanding their production base which will ultimately get recognized, but it's an out of favour area right now.

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HOLD

The one reason it has not performed that well this year is that it is almost 100% natural gas which is sold at a relatively fixed price. Hasn't had any participatiuon in the runup of oil prices. You buy this one for exploration sucess in the future. Fairly valued at this price.

BUY

An international company and their properties in Egypt are very good. Had expected they would be able to tie in their production a little sooner than the numbers are indicating. Likes it, but he is more focused on domestic assets. Because it's foreign there is an extra risk. Has some good prospects in front of it.

BUY

Have a couple of big plays with Petro Canada (PCA-T) in the Melita play in Tunisia and are a significant land holder offshore of Nigeria as well as their large holdings in Egypt. Thinks they are heading for 70,000 barrels which is a big number.

BUY

They are involved with hooking up 2 major facilities, so management has been focusing on the plumbing side of the business. Starting September, they have 4 rigs focused on exploration. The company gets $2.65 US a well in Egypt for their gas. The real upside is the liquids and the oil that they are finding in addition to their gas.

BUY

Has been a little more disappointing than he had hoped it would be. Certainly worth more than it's trading for right now.

WEAK BUY

A fabulous sector for at least the next 6 to 8 months. This stock has come under strong resistance in the last number of months. An underperformer, but probably has upside potential over the next 6 months.

TOP PICK

Going to be doing about 45,000 BOE's a day in Egypt by the end of this year. Looking for oil rich gas. The big upside for them will be the oil/liquids. Starting now they will have 4 rigs working.

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Centurion Energy International (CUX.TO)