Topic: How To Invest

Pat, your comments on Bronco Energy please. Thank you.

Article Excerpt

Bronco Energy, $0.56, symbol BCF on Toronto (Shares outstanding: 38.2 million; Market cap: $21.4 million), is a Calgary-based junior heavy oil company. It mainly develops, produces, buys and explores for oil in the Alberta oil sands. Bronco first sold shares to the public at $0.75 each, and began trading on Toronto in October 2005. Bronco’s main focus is its 55,000-acre Upper Wabiskaw conventional heavy-oil project in the Athabasca Oil Sands region. The project is a joint venture with the Bigstone Cree Nation, and is located on the Bigstone reserve lands in northeastern Alberta. Last year, Bronco drilled 30 new horizontal wells at Upper Wabiskaw, bringing its total to 68. Horizontal drilling involves drilling development wells sideways, or at an angle, to reach isolated pockets of oil and natural gas. About 58 of Bronco’s wells at Upper Wabiskaw are currently producing, and the company hopes to bring the remaining 10 on stream later this year. Bronco is drilling for bitumen (a heavy,…