14:38 | 22.07.2010
eResearch StockPotentials: STREAM OIL & GAS LTD.


Stream Oil & Gas Ltd. is a Canadian-based oil&gas company
with operations in Albania. The Company is focused on reactivation
and re-development of four major-producing
Albanian projects: three heavy oil fields and one gas field.

1. Strengths
The Company owns substantial under-developed oil&gas
resources with an estimate of 1,910 million barrels of oil
equivalent (boe), which would yield between $200
million and $260 million in net present value (NPV),
based on an oil price of US$50/$60 per barrel.

The stock is significantly undervalued, based on market
capitalization per boe, relative to international peers;

Potential for production growth in 2010 is promising,
with net production increasing to over 500 barrels per
day (boed) in April, a 70% increase over 2009; the
Company targets 2,000 boed by year-end 2010.

The Company has a experienced management team with
substantial expertise in the industry and in Albania.

2. Challenges

Substantial external funds are required to carry out its
growth strategy.

Although Albania is a European country and has great
potential for foreign investment with its vast oil and gas
resources, the country has been fragmented with outdated
technology, an inefficient workforce, and a bureaucratic
and lengthy regulatory process.

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