Enterprise Oilfield Group Inc (E): Fundamental Research Issues “Buy&#...

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Thursday, 02/05/2009 1:50:51 PM

Thursday, February 05, 2009 1:50:51 PM

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Fundamental Research Issues “Buy” Rating for Enterprise Oilfield Group Inc. (TSX: E)

Recently, Fundamental Research announced that it has initiated coverage on Enterprise Oilfield Group Inc. (TSX: E) with a report entitled “Initiating Coverage - Small Diameter Pipeline Construction and Utility Infrastructure & Directional Drilling Company in Alberta.” The full report is now available on their website: www.researchfrc.com.

In the 25 page report, the firm provides an overview of the company and its history, price forecasts for oil, analysis of Alberta and its economy, overview of management team, financial analysis, and a valuation of the company. Fundamental Research Analyst Brian Tang, CFA believes the company is a “Buy” with average risk. He affirmed the company is significantly undervalued, establishing a fair value estimate of $1.15.