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$12.38 0.04 (0.32%)
8/28/2008 4:00 PM

TXCO Resources, Inc. (TXCO)

CAPS Rating:
***

An independent energy company engaged in the acquisition, exploration, development and production of oil and gas properties.

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Avatar Bobwins07 (43.58) Submitted: 11/28/07 12:04 AM : Outperform Start Price: $11.62 TXCO Score: 16.25

Another tar sands play with a twist. They have conventional oil and gas but their tar sands field is huge, containing billions of barrels of bitumen but it's in Texas. Normal pricing for tar sands companies is something like 1-$2 per barrel of bitumen in the ground. TXCO claims to have billions of barrels. Stock is not priced for any of the bitumen. Commencing pilot to produce 10,000bpd in 2007-8. Profitable so financing tar sands development partially thru profits.

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