Value Microcaps Junior Energy

[farwest]

Petrominerales looks interesting. So does PetroRubiales (PEG).

But the way the sector has been hammered, I suspect you can throw darts and make great buys. The only plays I am staying away from are domestic NG plays.

OIL looks tasty too. ~$13 is gonna look like a gift in a few months if they can get another 20-25K bpd online without too many delays.

Ithaca is perhaps the most undervalued play in the NS right now. Big ramp starting at year end. Going from 2K bpd now to 10,000 exit '08, to 20,000 exit '09 to 30,000 exit '10. Are now fully funded after a horrific equity financing, so it's only up from here.

Antrim is in another cheap play, but big ramp won't happen for a year, so probably won't see much interest for a while.

Serica is also dirt cheap. Their Kambuna field comes online at year end. Likely to announce an increase in production as they tested almost twice what they hoped to produce.