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Josef Schachter Canadian Superior Energy Inc SNG-T BUY Apr 04, 2008

Has operations in Western Canada of about 4300 BOE's a day and a drawing some wells that could take it to 5000 giving it $1 in value. Also had success offshore Trinidad. Drilling a new well called Bounty, which will take us through to June. Very cheap.

Josef Schachter

Owned

Unlock Rating

$3.020

Stock price when the opinion was issued

oil gas

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COMMENT

An exploration company with properties off the east coast, which are currently not that active. Also drilling a number of wells in the Trinidad area and have some Alberta-based properties. This is one that he Trades. Higher risk/higher reward.

TOP PICK

Victory well offshore Trinidad at 600 BCF. Bounty could be complete by the end of June and then they have 1 more well to drill. If Bounty is successful, his $5.80 target could go up materially.

COMMENT

This is always being a stock that swings for the stars. Drilling an expensive well in Trinidad that looks interesting. Exploration drilling is a big roll of the dice. Not for the faint of heart.

BUY

World-class assets in Trinidad. Volatile because of the large wells they are drilling.

TOP PICK

Producing about 4500 BOEs a day in Western Canada. Have exciting discoveries in Trinidad. First play was Victory. Just announced they cased and logged Bounty well and are testing and should know in 2 or 3 weeks. They will then drill the 3rd play Endeavour. Could be a multi-TCF discovery.

HOLD

Have had 2 fabulous discoveries in Trinidad. British Gas is their partner and potentially could take them out. Drilling the 3rd well. Once they have the news of all 3 plays, he thinks there will be a shareholder maximization process.

SELL

Going into bankruptcy and is a very risky stock. In the midst of management changes.

PAST TOP PICK

(A Top Pick July 25/08. Down 79.53%.) Massive natural gas discovery in Trinidad. Management concerns and is expecting changes/go forward strategies on Sept 9 so wait for guidance. (Doesn't own but has other relations with the firm.)

DON'T BUY

(Market Call Minute.) Near bankruptcy.

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Josef Schachter Canadian Superior Energy Inc SNG-T BUY Apr 04, 2008

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