Value Microcaps Junior Energy

[lbas]

Farwest, Not that their word is gospel, but here are two research reports that puts a target price on STP.V of $3 and $3.50 respectively.

http://www.shpacific.com/wp-files/STP-CanaccordFEB08.pdf

http://www.shpacific.com/wp-files/STP-Macq.Res.pdf

Also, Don Coxe in his latest call (http://events.startcast.com/events/199/B0003/code/eventframe.asp)sounds quite bullish (41" mark on the call) on oil sands. He addresses this in the Q&A following the call. Current weakness in oil sands stocks is due to the concerns on the environmental effects of oil sands extraction and the regulations that may be put on such projects. However, Coxe seems to believe that high prices for oil will ensure that oil sands resources will ultimately get developed.

Now you may have a point that they are understating their costs. However their 219 sq. miles of oilsands leases within the 2nd largest hydrocarbon deposit in the world is a key strategic asset in this era of high oil prices. With a market cap of just $90 million+ for this company that has $18 million of working capital and this key strategic asset, the SP seems quite undervalued. They have completed their winter drilling program and the resulting resource evaluation which is expected to be completed by June end is likely to provide a near term boost to the SP when it is made public. JMHO GLTA.