May 9th, 2006, 10:24
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只看该作者 #42 |
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注册日期: Jun 2005
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Candax Energy* (CAX : TSX : $1.40) Net Change: 0.15, % Change: 12.00%, Volume: 2,652,590 I'm so excited, and I just can't hide it, I'm about to lose control and I think I like it. It is too early to quantify the success of Chaal-1. But according to Canaccord Adams Oil & Gas Analyst Terry Peters, the unrisked upside potential from Chaal-1 under a mid and high case reserve potential maybe in the range of $1.33 to $2.58 per share. Initial results of logging indicated that a total gas bearing section of some 450 metres was penetrated by the well in the Middle/Lower Nara, comprising limestone, argillaceous limestone and shale/claystone. A gross limestone section of approximately 200 metres was present within this gas bearing section, with a net reservoir interval of approximately 90 metres. Given the nature and thickness of the gas bearing section Candax and its partner have decided to carry out three separate tests. It is expected that testing will take some two to three weeks to complete. Results by the end of May? |
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May 9th, 2006, 17:25
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只看该作者 #47 |
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注册日期: Jun 2005
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Our congratulations to Fred Kozak, the oil & gas analyst at Haywood Securities who was just announced as one of the top oil & gas analysts in the country. Some comments he is making on a couple of junior oil & gas stories these days are needless to say, moving some stocks. Ironically one of those stocks is Candax Energy, who has as one of its leaders―John Clarke, who was formerly (for two years running) the number one oil & gas analyst in this country….and then he ruined that to see if he couldn’t create his own dynamic company. What Kozak is saying about Candax is interesting, because while he has a published target price of $1.25 it’s posted as “UNDER REVIEW” and what he writes is: “We have conducted a review of the upside potential from a successful gas discovery at Chaal and find that a conservative view of 200 bcf of reserves at Chaal would see an increase in value to approximately $1.80 per share.” “We note that the increase is based on existing proven plus probable reserves that were evaluated using much lower prices than the current commodity price environment. Also Candax has additional upside from gas in Tunisia. First, there is a possible reserves of up to 844 bcf at Chaal, as well as the reserves potential from two deep Triassic prospects at El Bibane……...Combined, the risked success of all these prospects indicates a value of as much as $3.00 per share for Candax.” Meanwhile, some comments Fred made yesterday on Oilexco are equally interesting after the discovery on the Disraeli block. He writes, “Valuation: Our target price of $8.00 represents a 3.5x multiple of 2007 before-tax fully diluted cash flow per share (changed from after-tax). This is a conservative approach, and we note that the upside potential is still significant. We also note that other international producers command multiples as much as 10.0x CFPS (cash flow per share). |
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May 11th, 2006, 14:51
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只看该作者 #53 |
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注册日期: Sep 2005
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Copy from stockhouse. Question #1:The latest press release states approximately 1-month from April 24, testing should be completed. Is this testing still on schedule? Answer #1:The test program should commence imminently and we expect it to be completed by end May Question #2:My understanding is that 3 separate testing zones are being evaluated. Is the company planning to release test results in aggregate or separately? Answer #2:We intend to issue test results for all tests after the program is complete. The results of each test will be reported separately, but at the same time" |
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