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Oilexco Inc (OIL.V)
Financials 
Technical Analysis 0
TOP PICK
Going to be bringing on the Brenda oilfield in the UK North Sea in the 4th quarter. They will be doing about $2 annualized cash flow. They have locked in a rig until 2010 which gives them some advantages.
Josef SchachterOwned
oilgas
BUY
Just had a D & A (dry and abandoned) announcement on a well and moving the rig to a new area which has high impact potential. Have 2 rigs booked for 3 years which is a big asset. Very cheap.
Josef SchachterOwned
oilgas
TOP PICK
This is a past pick. Even with the swings in this market the company has held its own and closed yesterday at 4.16. They have a new well which could possibly do very well. Trades very cheaply. Production is coming on in the 4th quarter. Bought at $4.03.
Josef SchachterOwned
oilgas
BUY
This could double under the right conditions. Well financed. Have great exploration prospects in the North Sea.
Peter HodsonOwned
oilgas
BUY
They have the Brenda field which they have already proved up. They are backed by the Royal Bank of Scotland. February they go in and start putting in the horizontals. Once that happens, he expects over 20,000 BOE's a day by Sept/06. That will give them a wall of cash flow to go in and drill.
Josef SchachterOwned
oilgas
TOP PICK
Their well form Blackhorse just reported 5,240 BOE's a day. Potentially this play could come on in 07. The big issues will be getting pipe crews in and get things hooked up. Rig availability in the North Sea is probably into '07/'08, it's that tight. Have resolved their financing for bringing on the Brenda fields. This play will come in the 3rd quarter of '06.
Josef SchachterOwned
oilgas
TOP PICK
They are going to bring in the Brenda field in the central North Sea in July/06. This could bring on production over 20,000 BOE's a day. They have a semi-submersible rig which is a key asset as they can farm it out to other companies. Will be drilling 4 wells in the North Sea before year end on different partnerships.
Josef SchachterOwned
oilgas
BUY
Doesn't own but is recommending it as a top pick to his clients. The big upside for it is the Brenda field which they will be bringing on in Aug/06. Will be spending a lot of money on horizontal wells from Jan/June-'06. Have a long time rig tied down and will be able to use it to farm other people's properties.
Josef SchachterOwned
oilgas
STRONG BUY
In Q3 of '06, the Brenda field comes on. The money to develop it is coming from loans from the Bank of Scotland. Drilling horizontal wells in January. Once the cash flow comes on, they will be producing north of 20,000 BOE's a day for the 4th quarter of '06. If they end up with cash flow of more than $2 it is worth $8. Good management.
Josef SchachterOwned
oilgas
PAST TOP PICK
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