GREY:LSTMF - Post by User
Post by
ProsperityPeteon Sep 26, 2011 12:10pm
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Post# 19084231
New Bakken Oil Plays?
New Bakken Oil Plays?Lets face it, the Bakken shale is hot and has impressive reserves. PBN has taken quite the hit like everything else but does anyone see a floor soon? Catching a falling knife is never easy. In the mean time, I have focussed my attention to little guys with a ton of leverage, emerging in the Bakken. Found one called HRH on the TSX-V that just scooped up sizable land and is trading under a quarter with a very tight share structure. I'll keep my eyes on the little guys til we see some turn around with the larger players. Crescent is down as well, perhaps this is just an excellent sale to take advantage of cause the average cost it seems to produce the light Bakken oil is in the $5-10 dollar per barrel range. A no brainer in comparison with the oil sands.
Good luck all longs,
Pete