Oil penny stock BlueGrass Energy Inc. BLUG.OB leads the stocks to watch on our oil penny stocks list at Wall Street Grand. Wall Street Grand LLC, a leader in Investor Relations in the small-cap arena, is pleased to announce to the investment community and Wall Street Grand club members that it has initiated coverage on BlueGrass Energy Inc. OTCBB: BLUG. To view our profiles sign up to our winning stock newsletter at http://www.wallstreetgrand.com/ .
Gerard Adams, President of Wall Street Grand LLC, stated “Since oil is rallying like we have been predicting in our Oil report on our Commentary page we feel now is the time to look for new Oil Plays as well as New Alternative energy Plays. Like we have been saying for months now - the one alternative energy that I think is the most undervalued commodity currently in the market is Natural Gas.”
I hope everyone started their research on BLUG. BLUG is currently at $0.56 and seems to have been on a solid upward trend for a couple months now. We think this could be the opportunity before it moves to its next leg up and breaks out past $0.60 again. The time is now for new oil and gas plays. Oil increased for an eighth day yesterday, the longest streak in two years to close in on $80 a barrel.
Energy drives the engine of today's global world, and modern society's thirst for this vital commodity is virtually unquenchable. Total global energy use in 2006 was equivalent to 81 billion barrels of oil. It is projected to grow to 121 billion by 2030.
The continued progress of mankind - and especially of the United States - depends upon the availability of sufficient, reliable sources of energy. The following facts tell the story of where the global energy market is heading:
These concerns have begun to stimulate more serious efforts at developing reliable, abundant alternative energy sources. Unfortunately the development process is slow and global reliance on oil, coal, and natural gas is expected to continue for several decades to come. The reality is, while policies are beginning to change, growth in demand for oil and gas will persist for years.
The limited supply is a critical issue to businesses, governments, and individuals alike. Particularly in the United States, there is great need for additional secure supply, creating opportunity for companies like BLUG, which focus on accessing and producing reserves contained within North America.
BLUG is a dynamic oil and gas company focused on exploration and production of oil and gas properties in North America. Blugrass currently has interests in producing oil and gas assets and has longer term exploration assets in the United States of America which will increase shareholder value and a contribute to American energy independence.
BLUG's business strategy is to acquire and exploit strategically located assets in the Permian Basin. This Basin remains the largest onshore U.S. oil-producing region with about 825,000 barrels of oil per day (a quarter of the nation’s domestically produced oil), and it contains as much as 30 billion barrels of remaining mobile oil. Annually, over 350 million barrels of oil are produced and 1,500 billion cubic feet of natural gas per year making it one of the most prolific oil and gas regions in the United States of America. Major players in the Basin include Occidental Petroleum (NYSE: OXY), Pioneer Southwest Partners (NYSE: PSE), Apache Corporation (NYSE: APA) and Marathon Oil Corp (NYSE: MRO) just to name a few.
BLUG is working on two major projects right now that I would recommend to read over. The first is in Eddy County, New Mexico and covers 2800 acres. BLUG has a 100% working interest; currently there are 32 wells which currently producing approximately 12 BOPD with 30 MCF based on 40 acre spacing. There are over 100 possible drilling locations based upon 20 acre spacing. Management has currently identified 10 wells that are currently shut-in that will be returned to producing status within the first sixty days. Potential should exceed 20 BOPD.
The second project is in the Heart of the Permian Basin in Andrew County Texas. BLUG's LOI on the Big Max option covers 5,000 contiguous acres in Andrews County Texas, known as the Straberry Trend. The Spraberry Oil Field is the largest U.S. onshore field to experience exponential production growth since 2003. Some major petroleum companies in Andrews county are Exxon (NYSE: XOM), Occidental Petroleum (NYSE: OXY), Chesapeake Energy (NYSE:CHK) , Pioneer Natural Resources (NYSE: PXD), Marathon Oil and Gas (NYSE: MRO), Apache Oil and Gas (NYSE: APA) , XTO Energy (NYSE: XTO).
These names are HUGE. To learn more about this project go to- http://www.blugrassenergy.com./index.php?option=com_content&view=article&id=15&Itemid=27
BLUG plans to build value for its shareholders through the acquisition and development of gas and oil assets that contain proven reserves in domestic areas where reserves can be economically produced at a low risk relying on joint venture partners to supply most of the funds needed to explore or develop these properties. Take a minute to read the recent Press release that just came out on BLUG yesterday here- http://finance.yahoo.com/news/Blugrass-Energy-Inc-Executes-iw-2734897110.html?x=0&.v=1
BLUG has been on a strong upward trend for a couple months now and it looks poised to continue to move up to new levels in the upcoming weeks so keep it on the top of your radar.
Here are some of BLUG's Press Releases:
Breaking news was just announced this morning that could factor into tomorrow's trading!
· Blugrass Energy Inc. Executes L.O.I. for "Farm In" Agreement With Doral Energy CorporationMarketwire(Mon 9:30am)
· BLUGRASS ENERGY, INC. FinancialsEDGAR Online Financials(Sat, Oct 17)
· Blugrass Energy Inc. Announces "Farm In" Agreement With Doral Energy Corp.Marketwire(Fri, Oct 16)
· BLUGRASS ENERGY, INC. Files SEC form 8-K, Change in Directors or Principal OfficersEDGAR Online(Wed, Oct 14)
· BLUGRASS ENERGY, INC. Files SEC form 10-K, Annual ReportEDGAR Online(Tue, Oct 13)
· Blugrass Energy Closes New Mexico AcquisitionMarketwire(Tue, Oct 13)
· Blugrass Enters Into a Letter of Intent With TRexO and Firecreek GlobalMarketwire(Thu, Oct 8)
· Blugrass Enters into Letter of IntentBusiness Wire(Thu, Oct 1)
· Blugrass Energy Update
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Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including 2009 growth, revenue for the second quarter and year of 2009 and gross margin for the second quarter and year of 2009. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets.
Disclaimer:
Wall Street Grand's stock profiles are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this profile was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. The purpose of this advertisement, like any advertising, is to provide coverage and awareness for the company. Wall Street Grand has been compensated Sixty Thousand dollars by a third party, Omnicom Inc. for a one month Investors Relations Contract on BLUG. Never invest into a stock we discuss unless you are prepared to lose your entire investment. WSG may or may not trade the stocks mentioned in this alert which can affect the price of the stock. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country. For our full disclosure please visit - http://www.wallstreetgrand.com/disclosure.html
