Niko Resources (NKO.TO) Buy, Sell or Hold

Niko Resources (NKO.TO)

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COMMENT

Quite a bit of noise surrounding D6 in India. There is a price dispute from Reliance, the operator, who wants higher gas prices. Has sold some holdings to BP and the Indian government is delaying processing. Drilling in Trinidad now and we'll have to see how that goes. Drilling in Kurdistan did not go well. Just announced a drilling contract in Indonesia, which would be the big upside for them. Very high risk.

COMMENT

Went down with the markets and oil stocks at large. Have a huge gas relationship with Reliance in India. Pay themselves very large amounts of money. Very well-managed. Could very well come through with some big discoveries but needs a kick in the pants.

DON'T BUY

Was under investigation. Has a large resource. Wouldn't by any at this time.

WAIT

Even that oils are badly savaged, he would not be surprised if we got a rebound in oil stocks generally. But give the expectation of a weakened economy, it wouldn’t surprise him if we had some weakness in oil prices. Don’t bound in too quickly if buying or averaging down.

SELL

There could still be some weakness in the stock. NAV is about $40. We'll find out how the Kurdistan well has done in about a month. The big exploration program won't be on till 2012 when they drill in Indonesia.

WAIT

Successful Canadian company on a global basis. Have discovered some of the biggest finds going. Stock has come off and he is looking at hit actively. His only problem is that in Europe and Russia, Nat Gas sells as a ratio to Oil, rather than market price.

PAST TOP PICK

(A Top Pick Feb 22/11. Down 11.44%.) In negotiations with the Indian government for higher gas prices. Meanwhile stopped all exploration. Involved in a lot of drilling and you could get good news any day.

WAIT

Quite a few unknowns with respect to the gas price negotiations with the Indian Government and their partner Reliance Industries. Drilling some really big elephant frontier type exploration prospects.

HOLD

Great company over the past decade. Great gas discovery in India and great cash flow. Thinking of increasing their interest in some other projects and may need $700-$800 million of debt financing. Has very clean balance sheet and investors are concerned about adding debt and capitalizing on the new development. Also their partner Reliance Industries has gone to war with the Indian government.

HOLD

A company that is this good, he could never get it cheap enough. They just seem to be able to keep hitting these massive finds.

TOP PICK

(A Top Pick Feb 22/11. Up 2.85%.) India and Indonesia. Have a lot of high impact exploration. Billions of barrels of potential to be drilled up in the next 18 months.

BUY

Operating numbers in India have been disappointing as of late. Indonesian upside is potentially huge. There are a lot of catalysts on a go forward basis.

WAIT

Have some fantastic drilling prospects but there is no major drilling going on this year. Didn’t make production. Wouldn’t Hold for the next 6 months but would consider Buying towards the end of this year.

HOLD

Gas producer in India. Just had great news that BP (BP-N) was buying into their joint venture. This should add some expertise in the offshore and gas marketing.

TOP PICK

(A Top Pick Oct 20/09. Down 7.67%.) Big success in India and BP is farming in on their partner Reliance Industries. Also have a massive land spread in Indonesia with high impact drilling, big boy territory. Cash that is coming ion from their success in India is being used with their technology. $150 target.

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