One billionaire in particular, purchased oil stocks several years ago when oil was trading for $20 a barrel.
But back in May, when oil was at $129 per barrel and rising, he did something that shocked his followers: He sold off all the energy stocks he owned.
He banked a fortune.
Now he's making another bold move:
He's betting on oil again.
A few weeks ago, when the price of oil reached a low near $90 per barrel, he decided to jump back in.
"I reinvested back in the oil business, and it's worked out really well for me," he said.
I made a big bet on the sector.
I bought a lot of stocks back."
Right now there's a feeding frenzy over beaten-down oil and gas stocks - and we've identified a group of investors making a killing by picking up super ex..SNRN.. bargain in the energy sector.
Profitably yours,
Sonoran Energy Provides Operational Update, Progress on KWB Field Redevelopment -
Ex.. Sonoran's KWB field has reached a production rate of 850 thousand cubic feet (MCF) per day after a successful hydraulic fracture stimulation of the KWB # 66 well.
As the well cleaned up post-treatment, the rate has increased steadily.
Combined with installation of plunger lift in the KWB #26 well, and the optimization in other producers in the field, the KWB field's average production rate has been increased by 61% week-on-week.
The continued success in Central Texas represents a significant step forward towards Sonoran's goal of creating additional shareholder value.
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