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Oil is on a tear recently! Just today,
oil had a breakout past $82 to hit 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 in this stock which in our
opinion shows that this is set to head higher in the
upcoming days.
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. Our 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! Now I do not know if
SXLP will go to $2.35 or how long it will take to get
there but I do believe we could see
SXLP
become a huge short term winner for us this week.
Actually, tomorrow could be a huge day for the stock
after seeing the news that was issued after the close.
SXLP
just had
breaking news after the close that it had total
gas reserves of $225 million! This is BIG! Check out
the PR here-
http://finance.yahoo.com/news/Signature-Exploration-and-iw-1035551380.html?x=0
SXLP
only has a market cap of under $5 mm right now! This is
extremely low and proves to me that
SXLP
has some significant upside potential if they can
execute on their production.
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!
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