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Friday, July 15, 2011 4:32:40 PM
Earthstone Energy (ESTE) and Stetson Oil and Gas (SSNOF.PK). Both companies have current locations in the North Dakota Bakken, and both are companies I would not be interested in buying. Earthstone buys old wells with very low production and makes improvements to increase output. Earthstone also buys working interest in Bakken wells. These purchases can be very small and as little as 1%. Stetson Oil and Gas gave investors a reason to be careful in October 2009. Stetson announced its first middle Bakken well had produced no oil. It used $3 million in the process of drilling and came up with nothing but water. This well was drilled on the Fort Berthold Indian reservation and near some of the best initial production of the North Dakota and Montana Bakken. Earthstone is in a much better situation than Stetson is, but I am still wary of this company. When buying speculative oil companies, please thoroughly study the names before putting your hard earned money to work. Just one well failure can create significant downward pressure on a stock, reducing the value of an investment significantly.
This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so consult a licensed professional making any decisions. My resume is real time on Twitter @TurnKeyOil.
Recent ESTE News
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 02:01:57 PM
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 11/13/2023 09:16:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 11/07/2023 05:15:24 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 09:13:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/03/2023 09:12:41 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 11/03/2023 09:05:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:28:07 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:23:07 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:23:03 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:21:28 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:20:31 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:20:20 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:18:32 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:17:53 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:16:27 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:15:59 AM
- Form POSASR - Post-effective Amendment to an automatic shelf registration statement • Edgar (US Regulatory) • 11/01/2023 09:29:27 PM
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