Author Topic: WIX.TO - Winstar Resources Ltd  (Read 3357 times)


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WIX.TO - Winstar Resources Ltd
« on: March 02, 2011, 10:11:45 AM »
 This is super light and risky so don't rush it. I still want to add more near current level for a potential home run.
It's Canadian O&G with its main operation at Tunisia (yes, that's the risky part). Currently producing about ~2000 boed (I think it's now close to 2600 boed with production from the new wells testing). CF should be well above 1 bucks this year. Current share price at 4. I think that reduces the downside risk from current level. The share price tanks from 6 to 4 because of the political unrest, the latest drilling result (more gas than oil) and IMO, mis-understanding from the market.
I have been buying it around this level. The catalyst would be stabilization in the area plus the a few more high impact drillings coming - they don't have the $ so they tend a wait a quarter or two before each high impact drilling. Some wells in similar structure is producing 3-6k boed, it can triple the share price if WIX gets one of those.
Of coz, it's a zero if the gov take off the operation which seems like when the gov is moving toward democrat model.
As always, please do your own research.