|It is time to take a serious look at natural gas companies. |
PanTerra Resource Corp (PAN.V)
- NYMEX natural gas prices are over US$10
January 2008, Seymour Schulich purchased 1,800,000 shares of Birchcliff
Energy (BIR.TO) at a price of $7.50 for his RSP. That raised his
holdings to 18,800,000 shares. Today it trades at $9.42.
February 2008, Kirk Kerkorkian bought 35% of Delta Petroleum (DPTR) at
~$19/share (which was a 20% premium to the market). Those shares are
trading today at $22.71.
- In February 2008, Canbriam Energy Inc. announced that it entered into
an equity financing arrangement of up to US$300 million to pursue acquisition,
exploration and development of oil and gas interests which will initially be oriented toward shale plays.
- On February 28, 2008, EOG Resources, Inc. announced that the Muskwa shale in remote northern British Columbia holds about twice the gas-in-place per section as the famed Barnett shale in Texas.
is sitting on a massive shale gas project (37.5 TCF) in Saskatchewan.
The market is revisiting unconventional gas companies and PanTerra will
be a beneficiary.
Listen to President and CEO Fred Rumak
has been using new approaches, like fracturing with gelled propane,
with success. They have documented communication between 3 wells within
a one mile radius and the fractures in older wells are remaining open.