Peter Hodson
Canadian Spirit Resources Inc.
SPI-X
TOP PICK
Apr 20, 2006
Coal bed methane play. Did some drill programs that they are reworking into their valuation. Recent engineering report shows they have 600/800 BCF of recoverable gas. Potentially an $800 million value and they have a $100 million market cap. Pretty risky.
The reserves and potential are there. They have lots of wells to drill over a five-year period. Slow and steady. They will need to finance it. Very cheap.
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