January 18, 2007 12:41 ET

eResearch Issues Initiating Report on Ironhorse Oil & Gas Inc.

TORONTO, ONTARIO--(CCNMatthews - Jan. 18, 2007) - eResearch analysts, Sam Kiri, MBA, ACMA, CFA and Bob Weir, B.Sc., B.Comm., CFA, have written an Initiating Report on Ironhorse Oil & Gas Inc. (TSX VENTURE:IOG). Ironhorse is an oil and gas exploration & production company with operations in Alberta and Saskatchewan. The Company has producing assets in the prolific Pembina region in western Canada.

In the Report, the Analysts state that, "Ironhorse's attraction is the exposure it provides to properties located within the Nisku Formation in the Pembina region, in which strong flow rates are a hallmark. The average drilling success on the Pembina Nisku is estimated to be approximately 50%. Nisku oil is also known for its high quality and commands high prices."

The Analysts go on to say, "The long-term strategy of Ironhorse is to identify oil and gas exploration and development projects within its key operational areas and subsequently develop them, either on its own or through a partnership, to producing assets. Ironhorse intends to be engaged in the subsequent production as the operator. The ultimate objective of the Company is to be a vertically integrated oil and gas exploration and production company."

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive Internet distribution network. eResearch does not trade in the securities of the companies it covers, nor does it accept any stock related compensation for research services. eResearch does not engage in retail or institutional sales, trading, or corporate finance activities, nor does it conduct investment banking or investor relations services for the companies covered. Our sole business is providing quality, unbiased research.

Ironhorse Oil & Gas Inc. paid eResearch a fee of C$17,500 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

Contact Information

  • Ironhorse Oil & Gas Inc.
    Alan Withey
    Vice-President Finance & Chief Financial Officer
    (403) 355-3620
    Bob Weir, CFA, Director of Research
    (416) 643-7643
    To subscribe to eResearch and then view/download the report.