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Opinions David Cockfield
Calvalley Petroleum Inc (A)CVI.A.TOBUY ON WEAKNESSMay 15, 2006
Big oil companies have been operating in Yemen for 30 years and he doesn't foresee any problems with the government. A lot of the money is local. Would look at any significant weakness as a buying opportunity.
David CockfieldOwned
$7.30
Stock price when the opinion was issued
oilgas
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Small Canadian oil producer in Yemen so part of the political aspect makes it look a little scary. Finally got approval for a pipeline. Have had good drilling results. Generating some pretty good cash flow.
David CockfieldOwned
oilgas
COMMENT
Oil exploration in Yemen. Seem to be having a tough time getting the pipeline through the bureaucracy. Stock is trading about 50% under its NAV. Drilling results continue to be positive. Still trucking their oil to the coast. Good cash flow.
David CockfieldOwned
oilgas
BUY ON WEAKNESS
Have some good oil properties in Yemen. He sees no reason why it should have sold off recently. They are working on their pipeline. Everything is slow because of bureaucracy. Definitely a buy under the $4.25 range.
David CockfieldOwned
oilgas
BUY ON WEAKNESS
Still positive on this stock. Under $6 it's a buy. Has good production coming on. Good long-term investment.
David CockfieldOwned
oilgas
BUY
A more speculative stock. Located in Yemen. Old territory for oil/gas companies. Have a really good block of land and have only just begun to scratch the surface. In the process of building a pipeline. Has a long way to go.
David CockfieldOwned
oilgas
BUY
Have some very interesting drilling prospects. They are increasing production. Yemen is a stable environment. Under $6 is a buy.
David CockfieldOwned
oilgas
BUY
A buy under $6. Production numbers are still coming on strong. Can see them in the 10,000 barrels daily within the next year.
David CockfieldOwned
oilgas
BUY ON WEAKNESS
In Yemen so it has some international risk to it. Probably getting close to producing 10,000 barrels a day but half of this is shared. They are trucking at the moment so their new pipeline is going to be important. Would buy at $6.
David CockfieldOwned
oilgas
BUY
BUY
Usually negative on foreign type holdings but this one is in Yemen, a country that has shown itself to be friendly to international oil interests. Have the political side covered off. Have had very good success in their programs. Trucking product to a refinery and building pipelines, so expect their production will go up.
David CockfieldOwned
oilgas
BUY
A little speculative as it is in Yemen. The Yemen government is very amenable to companies, particularly if they bring production on. They have lots of drilling ahead of them.
David CockfieldOwned
oilgas
