Re: BE Resources
in response to
by
posted on
Jul 23, 2011 10:27PM
We may not make much money, but we sure have a lot of fun!
Got a tip on it when it was 11 and bought 50 k shares, sold my last few at 65 on friday. Made for a good week.
The person that gave me the Be tip now says watch Nog
Keep in mind that NOG has a current market cap of only $10 milliondollars, the assets and break up value plus cash and revenue put it at ahigh multiple IMHO, not to mention the Encana deal in the courts rightnow.
It may be in Encana's best interest to make a settlement offer whichcould lead to an immediate cash injection of 100 million dollars plusseveral well concessions that could equal 10's of millions of dollars aswell.
Do some due diligence and find out why NOG.V is being looked at right now at these levels.
WINNIPEG, April 1 /CNW/ - Donald Benson, Chairman and CEO of Nordic Oiland Gas Ltd. (the "Company" or "Nordic"), (TSXV: NOG), and its jointventure partner, Desoto Resources Limited ("Desoto"), are ecstatic toannounce that the Alberta Court of Appeal has ruled in favour of Nordicand Desoto in regard to setting aside a Summary Judgment previouslyreceived by Encana Corporation ("Encana").
"This represents a significant decision in our favour, which will nowallow us to proceed to trial in the matter of the validity of numerousfreehold leases in Joffre, Alberta, which were issued by PanCanadianPetroleum Limited, a predecessor to Encana," Mr. Benson stated.
These valued lands consist of 2.5 sections, which have been proven forthe production of both Natural Gas and Coal Bed Methane (CBM). Currentspacing allows for as many as 12 CBM wells and 12 Belly River NaturalGas wells to be drilled.
"Perhaps the sweetest highlight of these leases is the fact that theyare subject to only a 15% royalty," Mr. Benson said
"This matter has been a burden to both Nordic and Desoto since 2003 andwe are now looking forward to a final resolution from the courts," headded.
Nordic and Desoto are seeking damages, including $100 million inpunitive damages.
About Nordic Oil and Gas Ltd.
Nordic Oil and Gas Ltd. is a junior oil and gas company engaged in theexploration and development of oil, natural gas and Coal Bed Methane inAlberta and Saskatchewan. The Corporation is listed on the TSX VentureExchange and trades under the symbol NOG. Nordic was one of the "2008TSX Venture 50" companies, a ranking of the top 10 public venturecapital companies in five industry sectors listed on the TSX VentureExchange.
I did an alert and similar value analysis on BER when it was 8.5 cent last week and this week it closed at 75 cents.There are a lot of under valued stocks in the markets right now. Spendsome time doing due diligence and finding th one thats right for you.