Gary Ackerman

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    • Thu Sep 28th 21:22 PM | Rating: 0 0
      Commented on:
      Nine Good Reasons to Like This Oil Sands Name
      I was a big CWPC zealot when it was listed as such (it is now BQI), and had bought many thousands of shares when the stock was at $.40 (forty cents). I sold half of my booty when the stock went over $6.00 (did real well on that one.) Now here is the problem: I have researched the Oil Sands for over two-years, and although I am still an advocate for the Oil Sands plays, there are inherent costs associated with the extraction of the bitumen; labor, road access, equipment specialization, and most importantly water and natural gas use, that are causing many of the small under capitalized players in the sands to either suspend, delay or sell out to the major players in the sands that have the vast resources, but yet are still proceeding cautiously. CanWest even though has succeeded becoming listed on the AMEX, is still way under capitalized for their land holdings. In a time when uncertainly looms larger than life in today's world, this play is not for the faint of heart or purse strings. This is probably still a good investment if you have patience and money, but realistically it is a very long term play. CanWest needs a lot more capital, or a big brother to buy them, until then watch your step you could fall into a sink hole.
      Thegman
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