I would pick ATPG, mill.ob and Iae.v. All have big upsides.
ATPG because they are about to realize the results of several years of work to bring the Telemark platform online. Production will jump from 13k boepd in 12/09 to 49K by 12/10. Huge jump that should lead to $8 in cashflow in 2010. Throw a decent multiple on the $8 and you get a double/triple.
Mill.ob has made a big jump in share price and market cap but it's still well below NAV and the company's plan appears very sound. I think they will methodically move up production, uplist to a senior exchange and justify the NAV of around $12/share.
IAE.v has answered the critics to their low reserves. They have near term catalysts in the Stella drilling and production is headed up. $4.25 was most recent analyst target. I think there is substantially more upside than that over the longer term.
Good luck. Sorry I don't have any new ones but I'm holding all three. MMT.v is another holding of mine but it has lots of risks in both drilling, their balance sheet and Nigeria. Bobwins
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