GusherStocks.com Alert – CGCA – Our New Big Play for Tuesday (9/1)!
Sep 1st, 2009 by beststockreport
We just released our big new pick – Cobra Oil & Gas Company (Symbol: CGCA)! CGCA has had a big summer of huge developments and now we believe CGCA could start on another run! We believe we are discovering CGCA at a great point in its chart with a lot of upside potential possible! We believe CGCA will be our next huge winner! CGCA is being watched by a lot of investors who could pile in on a move higher!
Cobra Oil & Gas Company
Symbol: CGCA
Current Price: $1.02
Snapshot – “CGCA is an aggressive independent oil and gas exploration company based in Houston, TX focused on development of domestic energy projects. The company is currently focused on two locations in the US – Utah and Montana. Cobra Oil & Gas recently completed a purchase agreement with Enercor, Inc. for a 62.5% working interest within the P.R. Spring Deposit in Utah. The acreage is adjacent to the Utah Oil Sands prospect in Uintah County, Utah. This could be a very prolific property for CGCA! Cobra is also exploring Montana with their Starbuck Prospects. CGCA has an option to buy a 50% interest, with 100% working interest and approx. 80% net revenue interest in the Williston Basin area of Montana. CGCA has been aggressively moving forward over the summer and we could see all the efforts pay off this fall!”
One of the big news pieces released by CGCA over the summer was the company signing a $6 million financing agreement with Swiss-based group, Baden Energy Group, Inc., with the option to secure a further $4 million, bringing the total value of the deal to $10 million in equity investment. This was huge news and we believe it shows the huge amount of faith Baden Energy Group has in CGCA!
The President of CGCA commented that the agreement allows Cobra to advance development on its promising Utah Tar Sands project.
CGCA announced a technical update on their Utah Oil Sands project on August 24th. The company is extremely excited about a technology known as In-situ Combustion (ISC). ISC works as an oil recovery method utilizing conventionally drilled wells on a property, using one well for injection, and multiple surrounding wells for oil production, or recovery. Heat is then injected into the injection well(s), which mobilizes the oil for free flow and pumping. The heat used also upgrades the oil to a lighter grade, making it more suitable as feedstock for refining purposes!
CGCA has received significant coverage from several equity research groups. We believe a solid amount of investors are watching CGCA and that we could see it take its next step higher soon and the investors watching CGCA could begin to jump in again!
Cobra Oil & Gas Strategy – The company plans to gain access to the huge potential in oil sands and focus on identifying both short and long term oil and gas opportunities including conventional oil and gas drilling as well. CGCA’s oil and gas prosepct in Montana is characterized by a shorter term conventional drilling and production plan while their Utah oil sands play is longer-term.
Recent News – On August 25th – Cobra Oil & Gas Co. Offers Update on Bakken Formation Within Starbuck Prospects. CGCA discusses the Horizontal Directional Drilling (HDD) technology that has been a catalyst in making the Bakken so prolific. The Bakken as a whole has gone largely unnoticed partially due to prior lack of technology.
CGCA Chart – CGCA reached a high of $1.94 on 7/23. CGCA corrected to as low as $0.75 on 8/21. CGCA has now started a new uptrend. We believe CGCA could start its second leg higher soon in the uptrend! CGCA has went on huge runs in the past and we believe CGCA could be a big mover!
For More Information on CGCA, go to the Cobra Oil & Gas Website at www.cobraoilgas.com.
We will be discussing CGCA much further within our Stock Hub and this Stock Newsletter over the coming trading days!
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Russ Urban
Staff
GusherStocks.com