Oil has International analyst buzzing after a breakout past $82 today hitting a high of $82.47 a barrel. Investors are on the prowl for a new undervalued small cap oil play and today we found a direct target with our new oil pick Signature Exploration and Production Corp. under ticker symbol SXLP.OB. SXLP closed today strong at $1.10 and traded over 268k in volume which shows that the investment community has started to take high interest and put the symbol on their radar. Join www.wallstreetgrand.com today and become part of the best investor newsletter on the web today.
SXLP is an independent energy company engaged in the exploration, development, exploitation and acquisition of on-shore oil and natural gas properties in conventional producing areas with a focus along the gulf coast of Texas. The company’s strategy is to continue making acquisitions of select properties that have been identified as economically attractive, technically and geologically sound and have significant upside potential.
SXLP just had news out today that it has entered into a letter of intent with EnerJex Resources (OTC Bulletin Board: ENRJ.OB) ("EnerJex") to form a joint venture partnership in a lease ("Lease" or "the property") located in Franklin County, Kansas.
The Lease lies on 214-acres and currently has 24 producing oil wells, two (2) water injection wells and two (2) temporarily abandoned, previously producing wells. According to an independent engineering assay report issued in 2008, cumulative production on the property was 64,499 barrels of oil, and estimated total probable reserves were 91,845 barrels of oil. Learn More here- http://finance.yahoo.com/news/Signature-Exploration-and-prnews-3446273375.html?x=0&.v=1
Over the weekend SXLP announced a research report issued from Grass Roots Research and Distribution which gave SXLP a price target of $2.35. The investment community is buzzing from news and traders are excited to see how the market reacts tomorrow.
SXLP just had breaking news after the close that it had total gas reserves of $225 million. Read the full PR here- http://finance.yahoo.com/news/Signature-Exploration-and-iw-1035551380.html?x=0. Wall Street Grand LLC provides market moving news to Wall Street Grand members and the investment community.
SXLP currently has leases or interests in seven prospects across four states. SXLP has acquired a 15% working interest in the Koliba Prospect which is a 173-acre lease located in the highly productive North McFaddin Field near Bloomington, Texas. The Company has identified 3 target zones at 5,880', 5,350', and 4,930', in the Frio Sands. The Koliba Prospect will be drilled 250 feet from an originally large producing well and is considered a low risk / high reward prospect due to its proximity to previous wells in the prolific Frio interval. The prospect has two potential targets for drilling, which previously have produced over 500k bbls.
The company is excited about the possible future outcomes for SXLP's oil fields surrounding its Koliba Prospect in Victoria County, Texas. The Placedo, Heyser, McFaddin, Hog Bayou and E. Sheriff fields, which are located in Victoria and Calhoun Counties of South East Texas, have already produced approximately 159 million barrels of oil and 1.8 trillion cubic feet of natural gas according to the Texas Railroad Commission's records. Based on current prices of over $80 a barrel of oil and about $6 Mcf of gas, the cumulative production of crude oil and natural gas would be valued at approximately $23 billion.
"Multi-billion dollar oil and gas production within Victoria and Calhoun Counties makes the Koliba well (which is located in Victoria County) ideal for the Company and our stockholders," Steven Weldon, Chairman and CEO of Signature Exploration and Production Corp., stated. He concluded, "With the land surveys complete, we are moving forward on this exciting prospect which is set to drill in a few weeks."
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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. 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. WSG has been compensated one hundred thousand dollars for the IR services for SXLP by a third party N.F.C. Corporation. 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. Please read our full disclaimer by using this link: http://www.wallstreetgrand.com/disclosure.html.
