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Editorial Dept

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Again, We Bring You Oryx

Bottom Line: Swiss billionaire Jean Claude Gandur’s Oryx Petroleum Corp. could hit it big again in property adjacent to its key acreage in Kurdistan, Northern Iraq, and we should know for sure with new drilling over the next three months.

Analysis: In early June, we detailed Oryx for you in an in-depth report because we see a huge opportunity here. Now Oryx is coming up again on our radar as it prepares to drill over the next three months at its Banan site, which it believes could have identical reserves to its primary asset in Kurdistan, Demir Dagh. So far, geological studies show the two could be a joined structure, which would give Oryx one of the largest pile of assets in Kurdistan. Demir Dagh holds about 160 million barrels of proved and possible oil reserves, plus 200 million contingent resources. All told in Kurdistan, Oryx has 65% interest in the Hawler license area (the location of the Demir Dagh and Banan fields) and a 45% interest in the Sindi Amedi exploration license area, operated by Perenco, with oil expected to come online in 2015. It’s paying an average of about $11.5 million to drill a well.

Recommendation: Get in on Oryx while you still can. It’s Canada’s youngest publicly traded oil and gas company, but it’s hitting the ground running. It’s great now, but if the Banan site proves similar to Demir Dagh, it will be even better, but by then it might be too late to get in while the company is undervalued.…




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