Topic: How To Invest

Pat: What do you think about Corridor Resources? Thanks.

Article Excerpt

Corridor Resources Inc., $3.14, symbol CDH on Toronto (Shares outstanding: 87.8 million; Market cap: $275.6 million), produces natural gas at its McCully field in New Brunswick. It also holds interests in oil and gas exploration properties in New Brunswick, P.E.I. and Quebec, and off the coasts of these provinces in the Gulf of St. Lawrence. Corridor shares exploration costs with partners. These include Innova Exploration and Hydro-Quebec. Corridor holds cash of $19.1 million, or $0.22 a share, and has no debt. However, it has suspended further exploration and development activity in the McCully field until natural-gas prices rebound. The shares could have trouble moving higher in the near term. We don’t recommend the stock. stock. …