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Re: NYBob post# 479

Wednesday, 10/04/2006 3:00:01 AM

Wednesday, October 04, 2006 3:00:01 AM

Post# of 496
CanWest Petroleum is the major player in Saskatchewan's
oilsands.

It is beginning to dawn on Americans (and Canadians) that
Canada's oilsands are becoming strategically important.
Our seminars last week featured presentations by CanWest
Petroleum's (AMEX: BQI, BullBoards) CEO Chris Hopkins.
He was able to reveal the ongoing discovery potential in
the company.
Chris believes there will be much more discovery on the
company's Saskatchewan properties.
Only 1.5% of the 508,000 acre position has been explored.
This drilling season, 250 wells will be drilled.
One hundred of those will be used to delineate the current
discovery area.
This could expand the resource to two billion barrels.
An additional 150 holes will be drilled to discover new
areas hopefully similar in size to the Alberta fields.


http://www.investorshub.com/boards/board.asp?board_id=6668

I have used the Enterprise Value ratio to value CanWest.
Companies in Alberta are paying about $1 per recoverable
barrel of bitumen in the ground for Alberta's oilsands
resources.
I am convinced that these ratios must increase in the
next five years significantly.
This means that CanWest's value should also increase
significantly- both from further discovery and
delineation, and from increased valuation ratios.

This AM I read in the National Post that the four candidates
seeking the Premier's job in Alberta are using the issue
of the over heating at Fort McMurray, which is the chief
population centre adjacent to Alberta's oilsands, to try
to slow things down.
For example one of the pretenders to the Premier's chair
has suggested allowing only one new mine to be developed
at a time.
Numerous other issues, mostly impractical, have been raised.
These are all raised to stoke public fear of the overheating
and "inflationary" oilsands and raise issues that create
political clout.

They do, however, bring the oilsands of Saskatchewan back
into focus.
Saskatchewan has a long history of oil exploration and
production.
It has developed upgrading facilities (at Lloydminster)
and infrastructure.
There is an ample labor force in Saskatchewan with high
unemployment in many of the remote areas.
A major north south highway runs within 30 miles of
BQI's property.
This means that the Saskatchewan oilsands discoveries are
likely to find additional value from the politics in Alberta.
The unique feature about the Saskatchewan story is that one
company -- and only one company -- now has a very large
position in that Province's oil sands.
That company is CanWest Petroleum.
My suggestion is that there are many catalysts and much
value-added for the CanWest story.
Be advised.
Report by Dr. Berry -
is now a proponent of what he calls
"discovery investing."

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