DALLAS, Texas 4/15/2009 10:53:59 PM
News / Finance

Technical Trade Alerts on Uranium & Resources Mining Stocks

Beacon Equity Research announces the release of Trade Alerts covering uranium & resources mining stocks:  CNOOC Ltd. (NYSE: CEO), Cabot Oil & Gas Corp. (NYSE: COG), Occidental Petroleum Corp. (NYSE: OXY), EnCana Corp. (NYSE: ECA), Vaalco Energy Inc. (NYSE: EGY) and Suncor Energy Inc. (NYSE: SU).

 

In the Trade Alert, the author highlights CNOOC’s reporting a drop in proven oil and natural gas deposits for 2008:

 

Shares of CNOOC Ltd. (NYSE: CEO) climbed 1.06% to $115.17 this morning. The Beijing, China-based offshore oil and natural gas explorer recently reported a drop in proven oil and natural gas deposits of 3.3% for last year after the sale of its asset interest in an overseas field. According to the company’s annual report release on April 10, 2009, proven oil and natural gas deposits fell to 2.52 billion barrels from 2.6 billion barrels a year earlier. … CNOOC announced in March it will cut costs this fiscal year in response to slumping energy demand.

 

The Trade Alert author also featured Cabot Oil & Gas’ announcing the sale of its Canadian operations:

“Cabot Oil & Gas Corp. (NYSE: COG) shares slipped 2.51% to $27.22 this morning. The leading independent natural gas producer recently announced its sale of its Canadian operations to an undisclosed private Canadian company in a deal worth CAD$102 million. … According to terms of the sales agreement, Cabot will pay CAD$78 million in cash and CAD$24 million in additional equity to the private company.  Consummation of the sale is expected on or before May 1, 2009, said the company, with conditions of the sale subject to usual and customary due diligence and closing conditions.”


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Beacon Equity Research
Jeff Bishop, (469)-252-3505
press@beaconequity.com