Oilexco ( trades on Toronto and London)- Joseph Schacter sees $40 - $50 in 2010
There is no question that the advice of an analyst - 300 % profit in two years - is compelling news.
Schacter has his own firm - and it prepares oil and gas analysis for distribution to mutual funds and investors.
His appearances on TV are widely followed and often result in price movements. Thursday ( January 24th ) he repeated :
1) the cash flow in 2010 will exceed today's selling price
2) production will rise to 100,000 barrels by 2010 - from 25,000 today
3) the cash flow will result in a selling price of $40- $50 based on $70 oil .More exploration success will lift that forecast.
This same week Jean Tardiff , a fund manager with Sprott Asset Management said he was a buyer of Oilexco. The media attention effect on a large audience has combined to lift a beaten up stock but it is undervalued today -
Jack Bass is the editor of the market letter The Apprentice Millionaire Program - available at www.amprogram.com
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