The Canadian oil patch continues to appear cheap with a number of companies trading well below their indicative fair value. One company that stands out is troubled intermediate E&P company Lightstream Resources (OTC:LSTMF). The market has taken a spectacular dislike to the company because of its high degree of leverage, seeing its share price plunge 52% over the last year.
This significant drop in its share price coupled with its high quality assets now sees a number of analysts claiming that it offers considerable upside potential and could triple in value. While I believe this to be overly optimistic, it is clear that the company is heavily undervalued by the market and on the basis of its...
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