PTGC & UPDA feelin' naturally gassy 2day
Got into both of these today, UPDA at .82 and PTGC at .75
I think both of these natural gas stocks are way undrvalued and both on their way to $2 bucks.
The race is on to see wich gets there first.
Check their charts / recent news releases / NG prices. Solid solid lays at this level.
You saw the news on UPDA today and PTGC is steadily trading its way toward $2 based on this Sep. 27 release:
"Hanover Compression Company of Houston, Texas has been contracted whereby crews will be mobilized to Emily Hawes Field to continue implementation and completion of the compression initiative on the EH#3A well as first reported. In its assessment of the Company's current operational objectives, management has shifted its focus for drilling plans on the EH#1A sidetrack well at Emily Hawes Field as reported in the Company's September 15th, 2005 news release, re-focusing its attention on developing its Tiller Ranch Field property, Jim Wells County, Texas.
Petrogen plans to mobilize drilling crews to the Tiller Ranch Field and commence operations on the Tiller #1 well, the first new well drill of up to six potential new wells to be spudded at Tiller Ranch Field during Q4-05 and Q1-06. New wells on Tiller Ranch Field will test multiple previously producing pay sands in the Vicksburg and Frio formations. Due to the accelerated scheduling, management believes that it may be able to spud as many as three new wells at Tiller Ranch prior to year-end. Natural gas wells in the area have average production histories of approximately eight to ten years with cumulative production ranging from approximately 2.6 to 3.5 Bcfe per well. Extensive subsurface control, provided by approximately twenty-five wells located on or adjacent to the Tiller Ranch lease indicate that potentially up to 18 Bcfe previously producing reserves are recoverable.
Petrogen's Chairman and CEO, Sacha H. Spindler stated "Petrogen's operations have undertaken limited down-time from Rita and we are well positioned to move on to Tiller Ranch Field at this time. We are extremely excited about diversifying the Company's operations in the Texas Gulf Coast, an area that we have built a platform of expertise and success upon to date." Mr. Spindler added, "We anticipate results from Tiller Ranch Field that could provide a substantial increase in economic benefit to the shareholders of the Company in a much shorter time frame than initially anticipated due to the accelerated development schedule that we've adopted for the property and the viability of the prospect as a key contributor to the Company's near term growth objectives."
Anticipated results from the potential success of the drilling plans at Tiller Ranch Field could potentially increase Petrogen's daily production, monthly revenues and producing reserves significantly over the coming two quarters, which would substantially add to Petrogen's existing foundation of current revenues from its Emily Hawes Field."
