Topic: How To Invest

Can you comment on Vast Exploration on the TSX? Thanks for your advice.

Article Excerpt

Vast Exploration, $0.61, symbol VST on Toronto (Shares outstanding: 173.1 million; Market cap: $107.3 million), is focused on exploring and developing its main asset, the Qara Dagh Block in the Kurdistan region of Iraq. The Qara Dagh Block is near a number of existing oil discoveries (including the massive Kirkuk field). The property is located in a region known as the Zagros Fold Belt, which could contain as much 45 billion barrels of oil. Vast holds a 27% interest in the block. Its partners include Niko Resources (symbol NKO on Toronto) and the government of Kurdistan. Niko also holds a 12.6% interest in Vast. In June 2009, the partners bought seismic data that covers 355 kilometres of the Qara Dagh Block. When the data was processed and interpreted, it revealed a number of drilling prospects. Vast will soon start exploration drilling at these sites. Vast recently raised $15 million in a share issue to fund its share of exploration costs. The…