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Updates on Recent Ideas |
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I've gotten a few emails from subscribers
looking for updates on some of the stocks I've featured recently.
Here's a couple notables from recent editions.
First- AbTech Holdings (OTC BB:
ABHD)- The stock took a bit of a beating for 5 days, but rebounded
nicely today. We started with this one about $1.30, and it
subsequently hit an intraday high of $1.65.
The stock had a rather violent 5
day sell off, making a low of just over $1. However, the stock rebounded
very nicely today and closed just about on the high of the day at $1.27,
up 12.5%. If the pullback concerns you, this bounce
should be looked at as an opportunity to get out. However, the stock had
climbed fairly consistently for about 6 weeks, so a little correction was
not out of order. It was a little overdone, but bouncing nicely.
Monday's idea- Liberty Coal (OTC
BB: LBTG) hasn't done a lot for us yet, but the stock looks like it's
on solid footing. We started with the one around $.95, and it's made
$1.03 since then. That's only about 8%, but it's only been
a couple of days. I like the way it's holding up on lighter volume, so
if bigger volume materializes and it starts moving up, this one could turn
into something really special.
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Bering Exploration (OTC QB:
BERX): On the Launching Pad |
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Bering is the stock I believe
is likely to deliver in the short term. This is my "Thrill of the Drill"
idea,
and the "Thrill" is coming soon. It's also going to be pretty thrilling
to see the stock move up along with diamond cutting into rock.
Today, after the market closed, BERX
disclosed it has begun the "geological assessment" of its 1200 acres in
the Eagleford Shale of Southeast Texas. The most important disclosure to
me- the company states it will complete the initial assessment by early
next week.
From there- drilling the test holes
are next, and that's when the stock should go. This one was last Friday's
idea at $1.25- been to $1.40, and closed today at $1.30. That's a mini
pullback you can take advantage of if you're not positioned.
BERX also disclosed it expects
to begin drilling its initial wells by the summer. This is moving very
fast. Look for this stock to be a shining star in your small stock portfolio
over the next week or two.
Here's today's news for your review:
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Bering Exploration
Begins Geological Assessment on Its Eagle Ford Prospect With Potential
Gross Reserves of 3,000,000 Barrels of Oil
Press Release Source:
Bering Exploration, Inc. On Wednesday April 6, 2011, 4:30 pm
HOUSTON, April 6, 2011
(GLOBE NEWSWIRE) -- Bering Exploration, Inc., (Pink Sheets:BERX - News)
announced today that it has begun a geological assessment on its 1,200
gross acres targeting the Eagle Ford shale play in Central Texas. This
assessment will help define Bering's initial drilling program. The company
expects to have a preliminary plan completed by early next week. This prospect
has potential gross reserves of 3,000,000 barrels of oil and 120 well locations
and will target the Eagle Ford, Austin Chalk, Buda and Edwards zones. Bering
will retain a 100% working interest and an 80% net revenue interest with
a two year lease term.
The Eagle Ford Shale
is a shale rock formation located in multiple counties in South Texas.
It underlies the Austin Chalk and the Edwards limestone formation and is
just below these formations. It is considered by geologists to be the "source
rock," or the original source of hydrocarbons (oil and gas) that are now
found in the Austin Chalk above it. Industry leaders have been quoted as
saying that it has the "perfect mineralogical makeup for shale play" and
one of the world's largest oil & gas companies has already called it
the sixth largest domestic oil discovery in the U.S. history.
"This is a crucial step
in implementing our drilling program," stated Steven Plumb, Chief Financial
Officer of Bering. "We expect to complete this process in the near term
so that we can begin drilling our initial wells by this summer."
About Bering Exploration,
Inc.
Headquartered in Houston,
Texas, Bering Exploration, Inc. is an independent oil and natural gas company
that focuses on identifying, evaluating, developing and acquiring potential
natural gas and oil wells in the Gulf Coast onshore region. Additional
information about Bering can be found on the web at www.beringexplore.com.
The Bering Exploration,
Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8898
Safe Harbor Statement
This press release contains
statements that may constitute forward-looking statements and are based
upon assumptions that management believes to be reasonable. A number of
risks and uncertainties could cause actual results to differ materially
from these statements, including, without limitation, the success rate
of exploration efforts and the timeliness of development activities, leasing
of the target acreage, fluctuations in oil and gas prices, access to acquisition
and development capital, and other risk factors described from time to
time in the Company's reports filed with the SEC. In addition, the Company
operates in an industry sector where securities values are highly volatile
and may be influenced by economic and other factors beyond the Company's
control. For additional information about Bering's future business and
financial results, refer to Bering's Quarterly Reports on Form 10-QSB and
Annual Report on Form 10-KSB and other reports, which are on file with
the Securities and Exchange Commission. Bering undertakes no obligation
to update any forward-looking statement that may be made from time to time
by or on behalf of the company, whether as a result of new information,
future events or otherwise.
Contact:
Bering Exploration, Inc.,
Houston
Steven Plumb,
713-780-0806
Investors@beringexplore.com |
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