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Stockchase Opinions

James HodginsReliable EnergyREL.VBUYOct 07, 2010

Bakken is a growing resource and Crescent Point (CPG-T) has been a serial acquirer of juniors in this area and holds a large amount of Reliable shares. Very attractive land packages and will grow production significantly over the next 6-12 months so could be an acquisition target.
$0.38

Stock price when the opinion was issued

$0.11

As of Sep 24, 2021. Market Open.

oilgas
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SELL
Take over price was $0.35. Crescent point already owns a good chunk of it. He would take the money on the takeover bid.
COMMENT
Oil exploration/production in south east Saskatchewan. Crescent Point (CPG-T) owns about 20% and is a strategic partner as they pursue the Bakken oil play. Still early days. Still needs to see another year of drilling. 2011 is a critical period for it.
BUY
Small cap higher risk story. Had potential to extend their Saskatchewan Bakken play east and had some early success there. Will also be coming out with some more information on the Alberta Bakken play, which is a hot play moving into Montana. Good catalysts.