Opinions John Stephenson
First Calgary PetroleumsFCP.TOSELLMar 30, 2005
Has been fueled by the expectation of the reserves in Algeria. They are shopping the company around, looking for a buyer and it's questionable if they can find one as a buyer would be taking over a $3.5 billion company, but they also have to pour another couple of billion into developing these fields.
$17.50
Stock price when the opinion was issued
oilgas
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SELL
Big hiccup was financing for the Algerian properties and it looks like they will get it by the end of this year. All their finagling has pushed production to the 2nd, maybe 3rd quarter of 2011. Doesn't look like they are going to have as much natural gas liquids as the market expected. No catalyst for a couple of years.
oilgas
DON'T BUY
Liquid rich gas and some oil in Algeria. Very good success with the drill bit. Problems are twofold. 1) How much money are you going to make at the end of the day with the Algerian government? 2) They need hundreds of millions of dollars to bring this project into existence. Too risky even for him.
oilgas
BUY
Something is stirring. Issued a statement today about shareholder proposals. Have solidified their arrangements with the oil/gas company in Algeria.
Michael SmedleyOwned
oilgas
HOLD
Algerian gas play. This is a name that you could start to get a little more excited about. They completed an engineering and design study. They need to secure $750 million and will likely get it. Once they start producing it will probably get some interest by the market. It's a May-June story.
oilgas
DON'T BUY
He has a short-term Short on this stock. They have a decent asset, but it's going to cost a lot of money to get it to market. They seem to have a consistent need for new capital.
Peter HodsonOwned
oilgas
