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Devon Shire

 
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  • Alberta Oilsands Inc - A Potential Cash Windfall That Could Change The Company [View article]
    So we have gone from crooks who need to be thrown in jail to an interesting speculation!

    That is an upgrade........
    Aug 6, 2013. 05:17 PM | Likes Like |Link to Comment
  • Alberta Oilsands Inc - A Potential Cash Windfall That Could Change The Company [View article]
    Hi,

    Thanks for the comment. No I didn't calculate the interest they expect to receive. I think the $50 million figure they provided is likely not rock solid as the government may well have other thoughts.

    But even if they get half that the share price seems attractive.

    http://bit.ly/H0Abqy
    Aug 6, 2013. 05:16 PM | Likes Like |Link to Comment
  • Alberta Oilsands Inc - A Potential Cash Windfall That Could Change The Company [View article]
    Disappointed in me! I thought it was my Mom's job to pass judgement....

    Do you know when the AOS management was aware of the lease cancellation? If they were aware of it before they bought shares then you may have a point.

    Perhaps they had no idea that the lease cancellation was coming. When did the government make the decision? If it was after they bought shares then it seems fine to me.

    http://bit.ly/H0Abqy
    Jul 30, 2013. 04:52 PM | 1 Like Like |Link to Comment
  • Alberta Oilsands Inc - A Potential Cash Windfall That Could Change The Company [View article]
    Hi,

    Thanks for the question. There is plenty of SAGD production going on up there, so hopefully it is making some money at current oil prices!

    To be honest, the main attraction for me here is the cash first and foremost and the fact that the market doesn't seem to be valuing it appropriately.

    There is nothing that I can see from the AOS properties that make them any less desirable than the others in the area.
    Jul 30, 2013. 04:48 PM | 1 Like Like |Link to Comment
  • Alberta Oilsands Inc - A Potential Cash Windfall That Could Change The Company [View article]
    Hi George,

    Thanks for the comment. The Algar Lake farm-in deal was completed before this $50 million cash "windfall" was known about.

    Without the farm-in it would have been years before AOS could try and develop the property on their own. They also get an experienced operator who will have a better chance to make a go of it. The five wells being fully paid for by the partner are worth considerably more than the $2 million in cash.

    We must remember that Algar Lake being able to cold-flow at economic rates is a not a certainty.
    Jul 30, 2013. 08:35 AM | Likes Like |Link to Comment
  • Corridor Resources - Limited Downside With 3 Potentially Huge Free Options [View article]
    The expirations range from four to eight years.

    http://bit.ly/H0Abqy
    Jul 24, 2013. 09:11 PM | 1 Like Like |Link to Comment
  • TriOil Resources - A 50% Dollar With A Near-Term Catalyst [View article]
    Thanks for the comment. It isn't just TriOil, it has been the entire Canadian junior resource sector that has been killed.

    Check out this graph:

    http://bit.ly/H0Abqy
    Jul 9, 2013. 10:09 AM | 1 Like Like |Link to Comment
  • Kodiak Oil And Gas Valuation Is Double Similar Canadian Producers [View article]
    Hi,

    Thanks for the comments. Legacy is producing light oil just like Kodiak is. The company has nothing to do with the tar sands.
    Jul 8, 2013. 02:33 PM | 4 Likes Like |Link to Comment
  • Kodiak Oil And Gas Valuation Is Double Similar Canadian Producers [View article]
    The funny thing about these resource plays is that the rate of growth is a direct function of the amount of capital that a company is willing to spend.

    Now not all resource plays are created equal of course, a perfect example is in the Swan Hills region in Canada where companies like Arcan and Second Wave chased the play too aggressively drilling wells that were too expensive relative to the production curve of the play.
    Jul 8, 2013. 02:32 PM | 1 Like Like |Link to Comment
  • Kodiak Oil And Gas Valuation Is Double Similar Canadian Producers [View article]
    Amen brother. I started buying these Canadian unconventional producers in 2010 and other than Bellatrix I'm underwater on all of them.

    I keep buying and averaging down, so hopefully one day valuations will improve.

    Just out of interest....what is different about Kodiak's oil that makes it more valuable than Legacy's?
    Jul 8, 2013. 02:30 PM | 3 Likes Like |Link to Comment
  • Kodiak Oil And Gas Valuation Is Double Similar Canadian Producers [View article]
    Thanks for the comments.

    Legacy is listed in Canada, so it isn't really just a pink sheets stock.

    The Canadian resource sector has been a disaster for the last two years and Legacy is one of many with a pretty modest valuation.

    http://bit.ly/H0Abqy
    Jul 8, 2013. 02:27 PM | 1 Like Like |Link to Comment
  • Is Canadian Natural Resources About To Take A Run At Penn West Petroleum? [View article]
    No I'm actually not. What I'm suggesting is something has perhaps been started after he bought the shares and he is doing the right thing by excusing himself.
    Jul 5, 2013. 09:35 AM | 1 Like Like |Link to Comment
  • Is Canadian Natural Resources About To Take A Run At Penn West Petroleum? [View article]
    Still holding Lightstream and actually quite happy with what they have done operationally. Canadian oil prices are exceeding Lightsteam's guidance for the year and it looks like production is as well.

    Not much to do but sit and wait for the stock market to stop hating pretty much all Canadian oil producers and give them better multiples.
    Jul 5, 2013. 09:33 AM | Likes Like |Link to Comment
  • Whitecap Resources Asset Acquisition Points To Long Run Exploration Being Undervalued [View article]
    "In fact, as I was reading this Whitecap news release I thought it almost perfectly described Tamarack......with operations in Garrington Cardium. About the same size production. About the same Oil and Liquids ration verses gas"

    Thanks for the comment. The lower decline production in the Whitecap deal complicates the comparison somewhat, but so does the limited upside on the assets.

    I think the bottom line for a company like Tamarack is that it trades at 35k per flowing barrel, which seems very low for a company that has a lot of oil upside (and a 56% liquids weighting already)
    Jun 29, 2013. 05:33 PM | Likes Like |Link to Comment
  • Bellatrix Joint Venture Points To Widespread Undervaluation Of Cardium Assets [View article]
    How so? Grafton is getting less than half of the 29 locations (Bellatrix keeps the other half) and they are paying $40 million for that interest.
    Jun 29, 2013. 04:45 PM | Likes Like |Link to Comment
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