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Opinions Josef Schachter
Oilexco IncOIL.VTOP PICKJan 02, 2008
The key is that they are producing from the Brenda fields at 20,000 BOE's, which will be ramping up to 30,000 over the next couple of months. Have a number of projects that they are working on. Could be producing 100,000 BOE’s a day by the end of 2009, which would generate cash flow greater than today's stock price. Still have 2 rigs, one dedicated to development drilling and the other to exploration drilling.
Josef SchachterOwned
$13.48
Stock price when the opinion was issued
oilgas
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(Top Pick Apr 4/08 Down 99.20%) Got into a debt problem. Company got blindsided by the storm. Management is trying to resurrect company. If Chrysler can come out of bankruptcy, then so can Oilexco.
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(A Top Pick April 4/08. Down 99.2%.) Fabulous exploration team, which is still very keen on doing something in the North Sea. Doesn't know what the endgame is going to be.
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(A Top Pick April 2/08. Down 99.2%.) Its intrinsic value is in the $2-$3 range. Has terrific properties with great growth potential of up to 100,000 BOE's a day (vs. most recent of 30,000-35,000). Was hoping somebody would come and pay fair value and arrange financing to get them back on their feet. If you own, let it go to zero, sell it for one cent and get your tax loss.
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