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Opinions Josef Schachter
Oilexco IncOIL.VTOP PICKSep 25, 2008
In the UK North Sea. Made a lot of great discoveries and bringing them on in the next couple of years. Well-financed. 2 semi submersible rigs that are working full-time. Doing about mid-20s right now and will be bringing on about 10,000 and will get to the 40,000s by the end of next year. Can see them getting into the 70,000/80,000 the following year.
Josef SchachterOwned
$11.70
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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