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By spacegravy

Posted: Thursday May 22 11:00:20AM 2008

I had a chance to read the latest AGM presentation and Q1 results for Iroc Energy services and I am very impressed. I like the strategic plan...they are opening a branch in Estevan Saskatchewan and plan getting some Bakken oil work for their service rigs. They also are looking at how to get into the Horn Basin in BC to get more work their. Going forward in the future, I think the key for energy service companies will be the Bakken play and the Horn Basin...alot of capital expenditures will take place in those areas. The share price has come back nicely to the 1.10-1.20 range and I think as soon as the one seller (BMO) is done selling we can slide into the 1.50+ range. Not alot of junior energy service stocks with this kind of potential.

By spacegravy

Posted: Friday Mar 28 12:08:24PM 2008

I had a chance to listen to the replay of the Iroc conference call to dicuss Q4 and Annual Results. I thought Tom Alford did a really good job and I think more companies should do conference calls. Some of the highlights from the conference: -Capital Expenditures for FY2008 are estimated to be 1.2 million and all of this will be maintenence capital. Subject to industry conditions, this can be raised if warranted. -Net debt at end of Q1 2008 is estimated to go down by around 5 million. -Probably only junior oilfield service company to increase EBITDAS and Revenue from 2006 to 2007 -Eagle Well services (service rigs) and Canada Tech (downhole tools) seem to be really carrying the company -Trading at around half book value and estimated to trade at 25% of liquation value. On a Technical Trading basis, today has been really postive so far as they constant selling by (anonymous) has ended at 75 cents. This wall has broke through. Still waiting to sift through the MDA and Financial Results.

By spacegravy

Posted: Wednesday Mar 19 7:47:23PM 2008

No worries Tara. I enjoy your posts and when you bring up less followed and more obscure companies. In regards, to Synodon, I will post on that as soon as I get a chance.

By joshpacific

Posted: Monday Mar 17 12:55:58AM 2008

Great exchange of thoughts here. This is an example of what makes the QIS forum superior to others.

By apatel

Posted: Sunday Mar 16 7:05:13PM 2008

spacegravy, A very nice analysis of both the companies. Tara, hats off to you for taking this bravely on the chin. However, spacegravy, what do you think of the lawsuits pending against Iroc as mentioned by Tara. Would that not effect the valuation of this company. Thanks again to both of you

By spacegravy

Posted: Wednesday Mar 12 11:58:37AM 2008

Tara wrote, "Correction Moneywretch, take a look at Dalmac (DAL.V) Not only did DAL.V make +.02$/share in the last quarter posted, but it also made +.03$/share in march last year. Dalmac is currently trading at 0.50$/share and is far more undervalued than Iroc based on traditional metrics. " are sadly mistaken. Iroc is way more undervalued than fact it is the most undervalued junior service company. Dalmac is in the business of vacuum trucks and some production hauling. you realize the barriers to entry into this service market...very easy to enter. Tons of and pop shops because of this. All you need is abit of cash and some drivers. Look at what Wellco got for their vacuum trucks when they sold to Everyready. You got 1st Q to make most of your money when operating vacuum trucks. I just do not see how Dalmac can grow much in the future in the vacuum truck division. So that leaves them with production hauling which they have been trying to grow. Problem is the only real way to grow this line is by acquring other companies as you need the relationships thus organic growth is limited. Acquiring other companies is tough and usually goodwill is taken on when doing this. Iroc is in the service rig business which can be way more profitable and is quite stable...and way more barriers to entry as you need millions of dollars to enter the service rig market. At 70 cents..I will be loading up as soon as some of my cash is free.

By dundee

Posted: Tuesday Mar 4 1:24:05PM 2008

I agree with Mr. Quinton. You would be far better taking the extra investment capital and diversifying your portfolio as opposed to averaging down.

By moneywretch

Posted: Tuesday Mar 4 10:38:58AM 2008

Thank to for the comments guys. I orginally bought some shares as a business partner of mind suggested to me that Iroc Energy shares were very undervalued. Being new to the stock market I did not know how votile these juniors are. After studying the finanicals and talking to my friend last night, I think I am going to buy more shares and average down. It looks to me like the oilfield service sector has to recover at some point and Iroc looks to be a good entry point for this recover. I compared Iroc to Tecnicoil and Central Alberta Well Services and Iroc look way cheaper and better value than those 2 companies. In fact, Iroc seem to be the only oilfield service stock that is profitable and under a buck. Thanks

By dundee

Posted: Monday Mar 3 8:46:48PM 2008

well said by Bobwins and Prospector - I agree with both

By moneywretch

Posted: Monday Mar 3 12:39:43PM 2008

Hello, I have been following this board as I am quite new to the stock market and I find most posts very informative. I was wondering if you guus could give me some advice. I bought some shares of Iroc Energy Services at 75 cents. It has gone down to 63 cents and I am very nervous...should I cut my losses and sell? Thanks

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