First Calgary Petroleums (FCP.TO) Buy, Sell…

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First Calgary Petroleums (FCP.TO)

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This has been the soap opera of Canadian companies. Driven by news.

DON'T BUY

They have a pretty significant asset, but there are some significant risks, not only politically, but in terms of infrastructure and what they have to build to get the gas out.

HOLD

Don't touch it right now. Will probably work its way out but it will take time.

HOLD

Had a tremendous problem in 2005 and then it made a base and is now recovering. There is a good chance that it can break out again. $12 would be the break out price and $9 would be the break down price. Very neutral at this stage.

DON'T BUY

Too speculative. Had a huge find overseas and looked very attractive. But they needed a lot of money to develop the resource so they looked for a buyer without success so they are trying to do it on their own. A turnaround story.

HOLD

Very big gas reserves. It hit oil. Speculative.

WEAK BUY

Recent oil discovery has made very stock much more interesting. If they can get a couple of more wells in, then you can get a scenario for some upside. Good trading stock. Management is not his favourite.

DON'T BUY

The problem is, the company is a junior and it has found significant assets they can't get produced. Waiting for a partner to come in. Very speculative.

BUY

Sold off from $25 to about $6, made a base, just broke out so therefore it looks like the beginning of a new up leg.

HOLD

Has been languishing. Found a lot of gas, but it was under P3 (Possible). A big potential resource there, but the market wants it taken into the P1 (Proven) and P2 (Probable) areas. Waiting on news of wells they are drilling.

DON'T BUY

A higher risk stock. What they have is in North Africa and the mid East. They have gas which is not behind a pipeline so they can’t move it out. They need liquid natural gas plants. A long-term higher risk story.

DON'T BUY

An improving story, but the drilling is a ways away with first production hitting around 2009. It's going to take significant capital to bring the production fully on stream.

DON'T BUY

This is an energy stock which is absolutely not in the game. If you can’t make money in an energy stock in this market, something is wrong.

HOLD

Had a huge gas discovery in Algeria, but didn't have the capital to develop it. They tried to sell it without success so they are going to start development on their own.

BUY

Thinks the stock has bottomed. They have a good asset there. Thinks there will be a buyer.

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First Calgary Petroleums (FCP.TO)