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Opinions Gordon Higgins, CA, MBA
Western Oil Sands Inc.WTO.TODON'T BUYAug 11, 2005
Involved in the Athabaskan Tar Sands with Shell (SHC-T) as a partner (60%). Shell has just raised their overrun costs to $7 billion. At the same time, this company has raised it's output forcast. The whole oil sands area is getting a little frothy with speculation on further takeovers.
$30.25
Stock price when the opinion was issued
oilgas
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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
