Canadian Superior's Trinidad Gas Find

Shares in Canadian Superior Energy Inc. (SNG) were up as much as 16% earlier today after the small oil and gas explorer reported a big natural gas find off Trinidad.

The company’s shares trading at C$4.74 around 1:30 p.m. on the Toronto Stock Exchange after earlier touching C$4.90, a 16% increase from the previous day's trading. The stock is up almost 30% in the last 12 months.

Canadian Superior said the Bounty well it drilled in waters 60 miles off Trinidad’s east coast tapped a field that could contain as much as 2.6 trillion cubic feet of gas and capable of producing 200 million cubic feet of the clean-burning fuel per day.

The company said the discovery was the second on its offshore Trinidad property. It plans to speed further appraisal drilling on the field.

Comments

[petersterling:]

check aoag out. they have hundreds of trillions of cubic ft of gas.

2008 Aug 13 08:59 PM

[DonaldRay:]

As someone, that I highly regard for his opion, just poiinted out too me.

"AOAG.PK" [pink sheets].
This stock at .01 cents does not produce anything. Yet they wrote to the world to help discover over 100 tcft of nat. gas. Although the company does not know what really exists"

Stay with SNG. It has even more great potential and is only going sky high from here.

2008 Aug 15 09:38 AM

[RWRocksOn:]

SNG is a Dhando pick - low downside (Western Canada supports the current market cap) and lots of upside in Trinidad and perhaps even more remotely in Oasis and the New Jersey LNG pipeline. Having said this, Noval is a loose cannon with a history of overpromising and underdelivery. Right now (11/2/08) the stock is a reasonable bet, but I would seriously consider selling on a pop due to a press release touting as of yet unproven reserves.

Given economies of scale, production in Trinidad will give them tremendous upside, with net margins increasing proportionately far more rapidly than gross margins.

2008 Nov 02 10:30 PM