Double Eagle Petroleum (DBLE)

[OilStockReport]

This company is a play on the Niobrara (remember different area), as Samson is. Double Eagle has 70,000 net acres and is planning to drill one test well this year.

A very important note, Double Eagle's asset is in the Atlantic Rim that is approximately 200 miles from where Samson/Chesapeake/Halliburton (HAL) are. Also, Double Eagle is the 12th largest coal bed methane producer in Wyoming, so this company is not to be valuated like a company with substantial liquid reserves.

At the end of the third quarter of 2010, gas was 97% of the business. This company also has a pipeline-based income. On February 22nd of this year, Brookfield Asset Management upgraded the company from hold to buy based on third quarter earnings.

It seems that Double Eagle is maintaining a profit. This company could have significant upside if its Niobrara holdings are oily, but this is a play on speculation.