Opinions
Laura Lau
Idaho Natural Resources
IDN.H-X
DON'T BUY
Sep 30, 2009
A cheap stock and part of the reason is that they only have one well in the North Sea. North Sea is a very expensive place to do business and currently is getting very low gas prices. They also need a portfolio of opportunities to chase after.
$0.230
Stock price when the opinion was issued
oil
gas
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COMMENT
In the process of drilling a high impact well in the UK North Sea. Will probably know within 30 days if it is successful. Very good management. If the well comes in and they have the ability to bring it on, they have other land blocks as well. They don't have rigs under contract, which could create delays.
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gas
PAST TOP PICK
HOLD
Chart shows a nice move from August to March with a big upward swing at the beginning of May that has developed into a “pennant flag”, is a pretty good pattern and is now at a level with good support. Uses stoploss pretty close to its current price. If that doesn't work, you can probably buy it back at around the $.30 range.
oil
gas