Top Oil & Gas Stocks are BEXP, XOM, IVAN

Brigham Exploration Company (NASDAQ:BEXP) rallied 6.63% to $14.79 on a massive volume of 1.87 million shares. The stock has a 52-week range of $1.04-$15.70. The company announced that its operated Jackson 35-34 #1H and Owan-Nehring 27-34 #1H produced approximately 3,540 (3,064 Bopd and 2.86 MMcf/d) and 2,513 (2,215 Bopd and 1.79 MMcf/d) barrels of oil equivalent, respectively, from the Bakken formation during their early 24 hour flow back periods. Brigham maintains an approximate 62% working interest in the Jackson and an approximate 49% working interest in the Owan-Nehring.

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Exxon Mobil Corporation (NYSE:XOM) surged 0.82% to $66.72 with a massive volume of 7.65 million shares.  The stock has a 52-week range of $61.86-$80.50. The company announced Q4 earnings. Sales rose 6% to $89.8 billion and net income fell 22% to $6.1 billion or $1.27 per diluted share. Downstream operating results in the fourth quarter were a loss of $189 million, down $2.6 billion from the fourth quarter of 2008. Lower margins decreased earnings by $2.2 billion.

Ivanhoe Energy Inc. (USA) (NASDAQ:IVAN) is amongst the top gainer in the early few hours. The stock has surged 6.51% and is trading at $3.27 with a massive volume of 1.37 million shares.  The stock today also touched a new 52 week high at $3.32. Robert Friedland, Co-Chairman and Chief Executive Officer of Ivanhoe Energy Inc. (TSX: IE, NASDAQ: IVAN) and David Martin, President and Chief Executive Officer of Ivanhoe Energy Latin America announced today that the company's first appraisal well (IP-15) in the Pungarayacu field in Ecuador has reached total depth with extensive oil shows in both the Napo and Hollin formations. The initial results from this well are highly significant and, as a result, Ivanhoe Energy will be deferring releasing any information until independent laboratory analysis is received. The cores have arrived at Core Labs in Bogota, Colombia for testing and analysis and results are expected shortly. Physical testing of the well will begin this week and preparations for the second appraisal well location are underway. Ivanhoe Energy will announce detailed information on the first well as soon as the data is received.

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