OPTI-CANADA INC. (T-OPC) $1.59 -0.25
Here in Alberta, the oil patch used to be a humming
place where jobs were plentiful, wages were high and the
good times were rolling! Now it’s the opposite as today
Total attracts interest as Europe’s third largest oil company,
may postpone an investment decision on their $10
billion Joslyn project.
Meanwhile, one stock attracting a lot of attention yesterday
and today is OPTI-Canada
and the chart to the right,
just shows you how ugly some stories are. But maybe
there is hope as OPTI continues to attract potential takeover
talk.
Analyst, Randy Ollenberger of BMO
writes about
OPTI’s Long Lake project, “While the project has faced
several above-ground issues that have limited upstream
bitumen production capability, Nexen (the operator of the
Long Lake oil sands project) is expected to complete necessary
modifications to its water treatment facilities in
April, which should allow for increased steam generation
and bitumen production levels in the near future.”
He points out a net asset value that could be as high as
$10/share based on NYMEX forward strip prices. Take
over story?
Disclosure: Hathor Exploration: Canaccord Capital covers
