Canadian Oil

[sumisu]

Dundee starts 9 Canadian energy companies with positive

Tue Sep 30, 2008 11:20am EDT

(Reuters) - Dundee securities began coverage of nine Canadian junior and intermediate oil and natural gas companies, saying the time was ripe to buy into them as their stocks were trading at discounts to the commodities. The brokerage, however, said given the recent volatility in equity markets, investors need to be patient to realise any gains. "We believe investors with a 12-month horizon will be rewarded," analyst Grant Daunheimer wrote in a note to clients. "When stability returns to the equity markets shares of junior/intermediate oil and gas producers will recover and reflect current commodity price levels."

Among the companies initiated were oil and natural gas producers TriStar Oil and Gas Ltd (TOG.TO) and ProEx Energy Ltd (PXE.TO), both initiated with a "buy" rating. TriStar has diverse crude oil-weighted asset base in Bakken shale and Alberta, said Daunheimer, adding that its assets offered significant potential reserve upside for the company.

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http://www.reuters.com/article/marketsNews/idCABNG14208920080930?rpc=44