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Buying stock in an oil company with no revenues on the possibility that one or two key factors could send the share price up might be as speculative as you can get.
But there’s always a method to Cramer’s madness. And this is the kind of strategy that can make investing much more fun.
Oilsands Quest [BQI
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] is a bitumen play, meaning it deals in oil sands or dirty oil, which is much more expensive to refine. And no, the company doesn’t yet have any revenues.
BQI owns 500,000 acres of land in the Saskatchewan oil sands, just across the Canadian provincial border from the much better known Alberta oil sands. There’s only been one discovery on the property so far, and apparently BQI is looking for joint-venture partners for further exploration.
Even if Oilsands Quest doesn’t find oil anytime soon, it doesn’t much matter. Cramer looks at BQI as a real-estate trade. The company just has to fetch the same price for its Saskatchewan land that Ivanhoe Energy [IVAN
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] recently shelled out for leases in the nearby Alberta sands to boost BQI stock 156%.
Now Cramer’s not saying BQI will jump that much. But it’s not outside the realm of possibility, he said. And even if BQI only gets 50% of what Ivanhoe paid, the stock still pops to $8.34 from its present level of $6.24.
Caution, though! This is a single-digit stock that Cramer said might be too risky for any portfolio. So if you’re planning on buying BQI – only after doing your homework – buy in small increments, using limit orders.
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