PhillyD

The House of Medicis - Cramer's Mad Money, (6/20/08)

Oilsands Quest. The amount of land has constantly been misquoted from Cramer on down. They do not have 500,000 acres leased but over 700,000. Then if you take Cramer's real estate play terms the stock should be (if they paid the same per $2.8 mil per acre as Ivanhoe recently paid) $24.00 per share and not $16.00. Then if you only value half of that (why only half?) the stock would be worth $12.00 not $8.00.

But real estate aside they have found oil on each test drill. Their Axle Lake Discovery is in hand. The amount will be independently announce sometime in July/August.

There is a very real possibility that they are sitting on way more than 10 billion barrells of oil equivlant. They will be exploring those 700,000 acres for more than any of our lifetimes. They are bringing in the equipment as we speak to begin and the town where this is happening has already voted "YES" to have them come in and do their thing.

Speculative? Yep. But where else are we going to find a potential $100-200 value, in the most sought after commodity on earth, for a mere $6-7 per share?

See what happened when OGX went public last week? 6 billion in market cap in one day and all they have is water rights. BQI has already found oil and is currently market capped at 1.4 billion. I like my chances.