Below is a rundown of Bakken stocks that are not widely publicized or covered. By no means am I suggesting that any of these are good investments, I’m just posting these for informative purposes. Many of these don’t even trade on US stock markets, but in this day and age, many of the major brokers such as ETrade allow you to trade on foreign markets:
Company: Sundance Energy
Stock Symbol: TSEA
Market: Australian Stock Exchange (ASX)
Most recent Stock Price: 0.46 (Australian dollars)
Highlights: Sundance owns an interest in oil and gas rights under 82,000 gross acres and 21,000 net acres adjacent to the prolific Elm Coulee Bakken shale oil field in North Dakota and approximately 98,000 gross acres and 47,500 net acres in the Indiana portion of the Illinois Basin. For 2008, Sundance expects to be drilling as many as 21 wells in the United States. This is a fairly small entity with $2.7 million (Australian Dollar) in revenue in 2007.
Company:American Oil & Gas
Stock Symbol: AEZ
Market: American Stock Exchange (AMEX)
Most recent Stock Price: $3.21 (US dollars)
Highlights: American Oil & Gas is a small cap oil company with a market cap around $150 million. AEZ ‘s Goliath project is located primarily in Williams and Dunn Counties, North Dakota around the Williston Basin. The Goliath project area currently encompasses approximately 88,000 gross acres and AEZ owns a 50% working interest in approximately 67,000 lease net acres.
Company: Painted Pony Petroleum
Stock Symbol: PPY
Market: Toronto Stock Exchange (TSX)
Most recent Stock Price: $6.89 (Canadian dollars)
Highlights: Painted Pony Petroleum is a small cap oil company with approx $200 (Canadian) million market cap that trades on the TSX. Painted Pony is a relatively new public company, its class A and Class B shares began trading on the TSX venture exchange May 23rd, 2007. Painted pony to date, has identified 100 Bakken drilling targets, and plans to drill 40 wells in 2008. A recent press released yielded the following highlights.
- Drilled 11 gross (3.74 net) horizontal operated wells targeting the Bakken formation in Saskatchewan at a 100% success rate and one (1.0 net) step-out stratigraphic exploration well in a new area. To date, Painted Pony has drilled a total of 19 (7.35 net) horizontal operated wells targeting the Bakken formation,
- Acquired access to additional potential Bakken-bearing lands with two farm-in agreements,
- Enjoyed field netbacks of $69.60 per bbl,
We’ll continue to search for more “lesser known” bakken plays in the future. Let us know if you come across any.