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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Compton Petroleum Corp. | NYSE:CMZ | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.647 | 0.00 | 01:00:00 |
*Direct & free downloadable report on Patterson-UTI Energy Inc. is available by signing up now at http://www.rothmanresearch.com/article/pten/23389/Apr-06-2010.html
High prices has always bode well with drilling and exploration companies as on a financial level they justify the drilling for new wells. "With prices moving upwards and the market trend favoring oil, it is quite clear right now that the bulls are in control, and as long as they stay put, the oil drilling industry will be the great winners... we will see a lot more drilling specially from companies, like Compton Petroleum Corporation (NYSE: CMZ), which have had a difficult revenue year in 2009 due to low commodity prices," commented Jack Benassi of www.rothmanresearch.com, "however, it should be noted that the price of oil as it stands is not following the natural trend of demand and supply... There is sufficient supply in the market right now and demand of this commodity has not really increased."
*Complimentary downloadable research on Compton Petroleum Corporation is accessible upon registration at http://www.rothmanresearch.com/article/cmz/23390/Apr-06-2010.html
However, the proper drilling contagion is about to go wild with the Obama administration granting limited access to offshore regions including the Virginia Coast which was prohibited-drilling-territory for the last 20 years. With emerging economies thirst for oil is ever-growing, it became imperative for the U.S. government to open new exploration zones even if the negative externalities could present challenges in both short and long terms.
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Considering that the oil and gas industry is probably one of the most volatile, adding to this that we are not going to see a change in the trend for fossil fuel use by industrial nations and sprinkling the recent offshore drilling developments in the U.S., it would be a fair assessment to say that 2010 could see drilling activities in the oil industry surge significantly. Read our reports upon free registration at http://www.rothmanresearch.com/index.php?id=6&name=Register to have an insight.
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For More Information Contact: Jack Benassi info@rothmanresearch.com
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