The Oil play I like here is PED. This company has really seen their production go through the roof. They have a 5% stake in Caspian Energy that has over 380K acres within the North Block of the Pre-Caspian Basin. Production has increased significantly since the initial investment. This oil basin is the fifth largest in the world and next to two fields that are estimated to contain reserves as large as the total oil reserves in the U.S. In March 2014, PED acquired 14,000 net acres and 40 wells in the DJ Basin in Colorado (Wattenberg) from Continental Resources. The thing that really caught my attention to this one is how management is really looking out for shareholders. Back in March they issues 3.4 million shares for around 7 million in financing and then turned right around and retired 3.3 million shares. So they got the financing at almost no dilution to shareholders. This is what really caught my eye.
They have a little over 29 million shares OS. Insiders own a little over 17% of the stock. This one just got the crap kicked out of it along with many other oils and looks pretty good to me here. Again others can do what they want but I have finally decided today to take a position. I think this one will rebound very nice soon enough.
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