Topic: Growth Stocks

The Stock Pickers Digest Hotline – Friday, February 20, 2009

Article Excerpt

BIRCHCLIFF ENERGY, $3.61, symbol BIR on Toronto, reports that its production in the three months ended December 31, 2008, rose 24.4%, to 11,524 barrels of oil equivalent per day from 9,260 barrels a year earlier due to successful drilling at its Montney and Worsely properties. Birchcliff’s cash flow per share rose 4.8%, to $0.22 a share from $0.21. However, falling oil and gas prices drove cash flow down 35.3% in the latest quarter, to $0.22 from $0.34 a share in the third quarter of 2008. Calgary-based Birchcliff, which is involved in oil and gas exploration, development and production, continues to buy land in B.C.’s Montney-Doig region. Birchcliff’s undeveloped land holdings stood at 348,249 acres at the end of 2008, up 30% from a year earlier. Most of the acreage is near Birchcliff’s existing production and provides it with lots of drilling prospects. As a result of its successful drilling at Montney and Worsley last year, Birchcliff increased its reserves to 55.7 million…