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Cobra Oil & Gas Company (OTCBB: CGCA) $1.05. Announced Monday that an updated research report has been issued on Cobra Oil & Gas Co. by Cohen Independent Research Group, Wall Street’s leading independent research firm, building off of July 21, 2009’s initial report. The latest report includes Cobra’s expansion of its Utah Oil Sands prospect and the addition of additional acreage, equating to a long-term price target of $4.42.
What They Do: Cobra Oil & Gas is an independent oil and gas exploration and development company. The Company’s focus is to identify short and long term oil and gas opportunities with twin goals of reducing the country’s dependence on foreign oil and increasing shareholder value.
In July 2009, CGCA finalized an agreement to purchase a 40% working interest in the Utah Oil Sands Project in Uintah County, Utah from Enercor, Inc. These leases comprise 33,632 acres in entirety, 23 federal leases and approximately 15% of the entire P.R. Spring oil sand deposit. It is estimated the P.R. Spring deposit contains 4.0 to 4.5 billion barrels of oil on Cobra's leases, according to the US Bureau of Mines.
Magnum D'Or Resources (OTCBB: MDOR) $1.17. Announced Tuesday the Successful Production of Magnum SRI Custom Compound in Full Commercial Scale. Magnum/SRI have successfully produced and tested the Revolutionary Magnum SRI Custom Compounds in a full production scale using a conventional Banbury mixer in the World Renowned Malaysian Rubber Board's, Rubber Research Institute facility in Sg. Buloh. This is the same facility where final compounds and products produced with our activated compound will be immediately sent for independent testing and analysis.
What They Do: Magnum's 98,000+ sq. ft. facility is located in Magog (Quebec). Magnum currently holds over $130 Million USD in open contracts for the production of rubber nuggets and rubber buffing.
Atlas Oil and Gas (OTCBB: AOLG) $0.30. Today announced additional geographic guidance on which oil and gas projects the company is pursuing at the current time. "While we are involved in confidential negotiations on these projects and the properties on which they are located, numerous inquiries from both individual and institutional investors, as well as the news media, prompted us to offer some more explanation," said company president Thomas J. Cunningham.
"In addition to the previously announced West Oneida Project in Scott County, Tennessee, which lies in the middle of an existing field that contains 62 existing oil wells, 15 gas wells and 7 oil and gas wells, all currently shut in, we also are in final negotiations with the management of a property in west Texas and are holding discussions with the management of another company in central Texas," Cunningham continued.
What They Do: Atlas Oil and Gas, Inc. focuses on pursuing opportunities in the energy sector. It owns working interests in various oil and gas wells in Pawnee County, Oklahoma.
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