Stockchase Opinions

Josef Schachter Tiverton Petroleums TIV-T BUY ON WEAKNESS Jun 20, 2005

Have a very important play in an area called Gallahad and are waiting for better weather to drill. If they are successful, the stock could go to $2.50. Producing 800 barrels a a day which is below their 1st quarter number of 854. Could exit 2005 at 1500 BOE's a day if Gallahad is successful. If you are patient, believes this will work.
$0.235

Stock price when the opinion was issued

oil gas
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WEAK BUY
Not a lot of institutional interest. Production is growing. Will take a while. Reasonable.
BUY
Is having good production growth.
WEAK BUY
High risk/high reward. Hasn’t done much until the last couple of months when it drilled some very interesting wells.
TOP PICK
Expected to do a reverse split. Expect that next year it will average about 1500 BOE’s. A small emerging company that is having a lot of volume rose. Very cheap on a cash flow multiple.
WEAK BUY
Has had some interesting discoveries. Seems to be growing. High risk/high reward.
BUY
Had some problems bringing on a new area called Galahad. That play is now on. Will start drilling two more areas very soon which could double their production.
HOLD
Have a number of wells they are going to start drilling this month.
DON'T BUY
Seems like it's just stuck in the water. Hasn't grown and it should have.
COMMENT
Has been a disappointment in this bull market. Still has a $0.48 target on it. Has one big play, Gallahad, and if they can get their act together on it, it will be the upside for them. Need access to rigs for this play.