Topic: How To Invest

Pat, could you please give me your opinion on Reef Resources?

Article Excerpt

Reef Resources, $0.07, symbol REE on Toronto (Shares outstanding: 32.3 million; Market cap: $2.3 million), explores for oil in southwestern Ontario. The company has received a $1.85-million loan from Solo Oil Plc, a U.K. company. It aims to use this funding to bring three existing wells back into production. It’s also looking at making acquisitions in western Canada. Reef’s growth prospects are very uncertain. At this point it has only limited investment appeal. We don’t recommend Reef Resources. ..