(PublicWire) — Ernest C. Schlotter, a senior analyst with SISM Research and a four star analyst according to StarMine, has initiated coverage on Cougar Oil and Gas Canada, Inc. (OTCBB: COUGF). The 10-page report, dated April 9, 2010, includes a stock rating and an 18-24 month target price.
The full report includes important disclosures, disclaimers and analyst information. Investrend and SISM Research both advise investors to exercise a reasonable degree of due diligence before trading in the equities of any public company, including carefully reading entire analyst reports and report disclosures, and then only in conjunction with advice from a registered financial advisor or broker. Investrend and the SISM Research both further advise that any analyst rating, recommendation, target valuation, price target or opinion should be considered merely a portion of an investor’s total investigative process. (More about ratings and valuations is available at http://www.investrend.com/ratings).
A complementary report, which includes important disclosures, disclaimers and analyst qualifications, is available for download via the Investrend Research Syndicate (at http://www.investrend.com/recent-research).
According to the report:
“Corporate growth began in the autumn of 2009 when Cougar acquired producing properties with excellent infrastructure in the Trout Field Area in North Central Alberta. The sunk costs exceeded $50 million including wells, facilities, pipelines, roads and power lines. This excellent infrastructure lowers the overall operating costs and CAPEX will be spent on the drill bit and development work. This results in a more aggressive growth plan to make Cougar a 2,000 barrel-a-day company by 2012/2013.
“Since the acquisition, Cougar increased existing production considerably through workovers and maintenance programs. The existing suspended wells in the Trout Area provide many opportunities for workovers to add reserves and production at much lower costs than drilling or acquisition. Central to Cougar’s future drilling and development projects was a joint venture agreement with CREEnergy that gives Cougar a 100% working interest to develop approximately 345,000 acres in cooperation with First Nations communities in central Alberta, adjacent to Cougar’s producing properties.
“Just recently, Cougar closed a formal agreement with a Canadian bank for two credit facilities to develop existing proved non-producing/undeveloped petroleum and natural gas reserves in Cougar’s core area and/or acquisitions of producing reserves. This transaction will enable Cougar to promptly execute its dedicated work program for the core area properties of Trout, with the goal of increasing existing production significantly.”
About Cougar Oil and Gas Canada, Inc.
Cougar Oil and Gas Canada, Inc., based in Calgary, and is a production and development company focused on the acquisition, exploration and development of crude oil and natural gas reserves in the Trout Field Area in North Central Alberta within the Western Canadian Sedimentary Basin (WCSB). The Company also intends to develop oil and gas reserves of new First Nations Treaty Land Entitlement (TLE) claims, which is adjacent to company’s core assets: the Trout Field Area producing properties. Within the First Nations communities, Cougar has the opportunity to explore and develop approximately 345,000 acres of mineral rights.
About SISM Research:
SISM Research (http://www.sism.com) is a private investment research firm, based in Zurich, Switzerland, offering independent, fundamental research on public companies since 1995. SISM Research publishes research on micro- to small-cap companies trading on the OTC, NASDAQ, AMEX and TSX stock exchanges. SISM research coverage platforms are geared toward institutional and individual investors in both North America and in Europe. SISM Research, as a member-provider of the FIRST Research Consortium (http://www.investrend.com/FIRST), takes steps to ensure the independence and integrity of SISM’s published research that exceed those of the CFA Institute Code of Ethics and Standards of Professional Conduct and the CFA-NIRI Guidelines, by following the exacting “Standards for Independent Research Providers”, which are also in accordance with guidance set forth by U.S. Securities and Exchange Commission’s Advisory Committee on Smaller Public Companies.
About The Investrend Research Syndicate:
The Investrend Research Syndicate (http://www.investrend.com/research/syndicate), a proprietary entity of Investrend Communications, Inc., distributes reports published by sources dedicated to unbiased, reliable analytics and complete transparency. The primary measure for determining those sources is the “Standards for Independent Research Providers” (http://www.investrend.com/FIRST/standards).
Morgarten Financial Services has retained and paid SISM Research six thousand eight hundred and fifty US dollars to resume continuing coverage of Cougar Oil and Gas, Canada Inc., for a two-year period, and Morgarten is under contract to pay SISM Research an ongoing fee of one thousand eight hundred and fifty US dollars per month over that two-year period to ensure continuation of SISM’s independent coverage of Cougar Oil and Gas, Canada Inc. SISM has paid InvesTrend Communications, Inc. (“Investrend”) a portion of SISM’s collected fees from Morgarten Financial Services for a “distribution and visibility” program, provided by the InvesTrend Research Syndicate (Div., InvesTrend) in support of SISM’s Cougar Oil and Gas Canada, Inc. coverage.
“Safe Harbor” Statement:
This announcement contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements regarding potential sales, the success of the company’s business, as well as statements that include the word “believe” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cougar Oil and Gas Canada, Inc. to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Cougar Oil and Gas Canada, Inc. assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade.
Cautionary Note to U.S. Investors:
The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms on this press release, such as prospective resource or Original Oil in Place, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10K. You can also obtain this form from the SEC by calling 1-800-SEC-0330. Additional information may be found at the following web site.
The OTC Bulletin Board Exchange has neither approved nor accepts responsibility for the adequacy or accuracy of the above news release.
(+1) 403-238-8813 (during market hours)
Cougar Oil and Gas Canada, Inc.
Tel: (+41) 44-881-2020