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Opinions Glenn MacNeill, P.Eng.
Western Oil Sands Inc.WTO.TOTOP PICKDec 11, 2003
Owns a bituman mining operation, 20% of the oil sands operation. Starting to ramp up reduction and has to get its costs down which is expected by the 2nd quarter of next year. Good value.
$28.75
Stock price when the opinion was issued
oilgas
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TOP PICK
Being acquired by Marathon (MRO-N). He is buying it for the sum of the parts of the valuation. Basically what you are getting with the Marathon take out is cash and about 33% of stock. You also get a junior international exploreco, Western Zagros in Kurdistan, where there are significant light oil deposits. Market is not fully valuing this company.
Adam ThomasOwned
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BUY
Marathon Oil (MRO-N) has made an offer to acquire. Part of the deal was for them to spin off their Kurdistan assets. Stock has been trading at a premium to the offer that could mean the market thinks a higher bid is coming or if the market is ascribing more value to the Kurdistan asset than originally thought. He feels it is the latter. Be surprised to see a competing offer come in.
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HOLD
Marathon Oil (MRO-N) is looking to acquire this company. Not sure if there will be any further bids, but she is holding her stocks.
Veronika HirschOwned
oilgas
HOLD
