The Cheapest Stock Without a doubt now, EOG is officially the cheapest oil exploration stock in the market. How could a company now with gross NI51-101 oil resources of 18 billion barrels (net of over 12 billion for their 70% interest) be trading at a market cap of $48 million? Makes no sense but as I thought all along, there just isn't that many investors that know this company given it's only 6 month listed on the venture. I certainly thought it would have blow pass the $1 mark by closing today but patience in these type of markets is required. Good to know that Nimrod will be drilling in July as Chariot already has the Rig contract and Petrobras is the operator - Petrobras being the operator is significant to me (seen to many misses by small players who lack success experience).
Also, Super majors will be taking EOG really seriously now - how can they ignore 18 billion barrels in Walvis Basin (the most oil prone of the 4 basins)?