Oil and Gas Main (fka OGM)

[oilman57]

Undervalued oil stock to go long on is Sonoran Energy (SNRN.0B). Right now they are trading at .38 and have a $30 million market cap. They have growing production and currently are at approximately 1000 boepd. They started the year at 100 boepd. They are targeting 2000 boepd by the end of the year as they are currently reworking some high impact wells in Louisiana the first of which should be going into production shortly. So the market cap should at least double by the end of the year imo. They also have east Texas and West Texas properties which they have yet to begun to drill on as well as a property in Jordan which they believe has 30 million barrels in reserves. They anticipate drilling in Jordan will commence in 2007.

Web Site: http://www.sonoranenergy.com

Here is the business summary from yahoo:

Sonoran Energy, Inc., an independent oil and gas exploration and production company, focuses on building a diversified portfolio of assets in North America, North Africa, the Middle East, and the Caspian region. In the United States, Sonoran owns a 100% Working Interest in 10 production wells covering acreage in the Beauregard, Vernon, Rapides, and Livingston Parishes of Louisiana; 3 east Texas properties located in 3 separate oil fields known as the JRC, Lisa Layne, and Ann McKnight; and the KWB (Strawn) Field located approximately 90 miles southeast of Midland, Texas in Tom Green County containing approximately 3,922 acres. In North Africa, the company is evaluating opportunities in Algeria and Libya. In Middle East region, Sonoran focuses its operations on Jordan and Iraq. In the Caspian region, it has a representation agreement with the CSSI Group to assist the company in identifying acquisition opportunities within Kazakhstan. Additionally, Sonoran has strategic partnerships with AGR Holdings AS, RLG International, and Welltec AS. The company was incorporated as Cerotex Holdings, Inc. in 1995 and changed its name to Showstar Online.com, Inc. Further, it changed its name to Sonoran Energy, Inc. in 2002. Sonoran Energy is based in Chandler, Arizona.

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