Topic: How To Invest

Pat: Do you have a stance on Chinook Energy? Thanks.

Article Excerpt

Chinook Energy, $0.95, symbol CKE on Toronto (Shares outstanding: 214.2 million; Market cap: $203.5 million; www.chinookenergyinc.com), is a Calgary-based company that develops and explores for oil and gas. It has producing assets in the Peace River and Grande Prairie areas along the border of B.C. and Alberta and onshore and offshore Tunisia, in North Africa. About 58% of Chinook’s production is gas. The remaining 42% is oil. The company was formed when Storm Ventures International acquired Iteration Energy in June 2010. Chinook Energy began trading on Toronto on July 3, 2010. Chinook’s production fell 20.1% in the three months ended March 31, 2013, to 10,860 barrels of oil equivalent per day (including natural gas) from 13,596 barrels a year earlier. In the latest quarter, 8,633 barrels a day came from Canada, and Tunisia supplied 2,227 barrels. Lower output at the company’s BBT concession in Tunisia was the main reason for the decline. Chinook has restarted drilling at this concession, which should lead…