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IBDvalueinvestin (99.64)

Rodman and Renshaw says BPZ's initial test well at Albacora, the A-14XD is currently drilling at ~14,000'

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November 12, 2009 – Comments (0)

 nearly its planned total depth. While the company has to test the well before we'll have any conclusive data, early indications sound pretty good. After talking with the co the firm says, it sounds like oil indications have been seen in the lower zones and the formation quality appears good. Given this, they think there's a very good chance that the well will be a successful oil producer from both the upper and lower zones. If the company reports a successful test from the well, they'd expect a nice reaction from the stock

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