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By another pothole
Posted: Friday Nov 2 10:49:53AM 2007
On July 31st,2007 Bobwins predicted PBG would hit $100 within three years. Then on Oct.10th he predicted $100 within two years. Now in less then a month the price has moved up about $7.50 to $51
Just what I like to see. Nice conservative advice!
Posted: Wednesday Oct 10 1:20:55PM 2007
PBG.to takes off again. +1.82 to C$43.55
Apparently there was a 48 page UBS report out that analyzed Petrobank and their THAI prospects. They obviously liked it and put $50 low target, $65 medium and $80 high target. I think Pbg gets to $100 in the next two years.
Posted: Tuesday Oct 2 10:35:32AM 2007
PBG.to +1.15 to C$39.89 close to $40!
UBS started with a buy recommend today and a $48 target. My target is $100 in the next 18 months. Great long term winner. Oil, gas, tar sands, THAI, Colombian subsidiary PMG.to. Upside here is enormous. If you are looking for one energy play, I think this is it. Bobwins
UBS has started coverage of Petrobank Energy & Resources Ltd. with a “buy” rating and $48 price target, saying this is a “risky stock,” but for investors who can tolerate an above-average risk play, it is an “attractive proposition.”
Analyst Andrew Potter figures the downside risk is about $9.50, if Petrobank’s new oil-sands technology, known as Toe-to-Heel Air Injection (THAI), flames out. But if the technology shows reasonable results by recovering more oil and delivering a partially upgraded oil product, he suggests Petrobank could become a takeover target.
The stock ended Monday’s session at $38.60 on the TSX.
While it is still early days testing THAI at the Whitesands lease, results from the pilot project appear very compelling, Mr. Potter contends.
Instead of using steam to heat the oil-sands reservoir and lower bitumen viscosity, THAI ignites the bitumen below the surface. Thus far, Petrobank has demonstrated in situ combustion, high productivity rates and signs of upgrading. It is still attempting to reach steady-state production, though.
Posted: Monday Aug 13 9:36:46AM 2007
pbg.to,Petrobank posted good Q2 earnings of .11eps. Everything seems to be working. Bakken wells are being drilled at a high pace with 4 drills turning. Expects to hit 60 wells in 2007. Production has been delayed by slow completions but should be catching up this month. THAI working and company is preparing to drill 3 more well pairs with CAPRI feature that will attempt to upgrade bitumen underground by adding a catalyst along the horizontal well intake. Hoping to increase API to the 20 range so that the bitumen can be transported by pipeline without diluents, a major cost savings plus lowering the need for refinery work to turn the bitumen into lighter grades of petroleum.
Posted: Friday Aug 3 9:57:51AM 2007
Petrobank is running. PBG.to +2.75 to $33.60 PMG.to 81% owned subsidiary announced yesterday their latest well is not 6,000bpd but could likely produce at 10,000bpd. PMG has 100%WI in this discovery well plus developmental locations surrounding the Corcel-1 well.
PMG good news plus possibility of buyout sparked by Marathon purchase must be powering PBG. Volume is not that high at 576K so might be just retail interest rather than institutions loading up.
Still all good for my largest holding! Yeehaaa!
Posted: Monday Mar 19 3:46:26PM 2007
Petrobank is my favorite tarsands play. Combines conventional Canadian oil/gas with Columbian light and heavy oil plus THAI experiment that is progressing nicely and could supplant SAGD as primary extraction method for TarSands.
Petrobank participated in a Tar Sands Conference in the UK.
Presentation is well worth the listen.