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Oil over $73 and climbing?

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August 21, 2009 – Comments (1) | RELATED TICKERS: BP , ATPAQ

$73 has been a resistance number for awhile for Oil and it looks like it is crashing through that today.  I don't know if it is just contract expiration related or sustainable price growth, but it will probably mean a good day for oil stocks today.  An interesting article worth reading (of course just one person's view) :

http://peakoil.com/modules.php?name=News&file=article&sid=50742

I've been advising ATPG as an undervalued longterm oil play for months, and it has moved up nicely so far.  I am kind of leery to urge it now for fear of a correction, but perhaps build a small position to at least get you into the company might be worthwhile.  I've blogged useful links in May and recently on the subject, which you may want to read as you do your own research.

1 Comments – Post Your Own

#1) On August 25, 2009 at 4:42 PM, pokerchip1 (< 20) wrote:

Awallejr, thought I'd drop by and read your blogs.  I currently own BEXP which has had some encouraging test wells on one of their properties. Also, Questerre Energy, QTEYF (QEC.V) has no debt and cash flow.  They acquired a large shale property in Quebec which could be a blockbuster-stockmaker.  The shares are just north of $1.50.  Check out their web site.  Again, being a Nat. Gas play, their price is extremely depressed.  Any move up in NG or exciting drilling news and look out!  I'll check out your ATPG and see if it works for me.   You may remember me for my Teuton Resources post; you were kind enough to leave a nice comment.  I don't know if you've been following it but it was 14 cents offered at the time; it's moved up to 21 cents (Canadian...Symbol TUO.V; US symbol:  TEUTF.)  Stock has been moving due to active drill programs at Treaty Creek and the Clone.  Today volume came in to this sleepy stock...sleepy no more?I do expect it to pull back a bit and quiet down.  It seems to trade in spurts.

Good luck. 

 

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