Opinions
Josef Schachter
Diaz Resources Ltd
DZR-X
HOLD
May 19, 2004
Has had some good success in Canada and the stock is sitting very cheap right now. Investors tend to live a larger companies first, then the service companies and finally the small caps. Good management.
$0.510
Stock price when the opinion was issued
oil
gas
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HOLD
Doesn't have research models on this company. Has deep impact well drilling in Texas as well as bread and butter in Alberta. They may have an asset value that is 50% higher than it is today. Recently had some very good discoveries that they may want to exploit before going through the maximization process.
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BUY
Management owns 42% of the company. Gas is 90% of their production. They'll probably do 1,500 average production this year. The big upside for them is the Harmattan discovery. They believe the year end asset value at the end of 2004 is $1.06. A value story. Downside is limited and the upside is potentially 30/50%.
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DON'T BUY
Did quite poorly over the last couple of years. Have assets in Wilcox County, Texas and it has been tough slugging. Spent a lot of time/capital drilling big, expensive wells. Difficult to get to and difficult to drill. Asset base in Canada is in southeastern Alberta, which has been in decline.
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DON'T BUY
Did quite poorly over the last couple of years. Have assets in Wilcox County, Texas and it has been tough slugging. Spent a lot of time/capital drilling big, expensive wells. Difficult to get to and difficult to drill. Asset base in Canada is in southeastern Alberta, which has been in decline.
oil
gas