Point Roberts, WA - June 23, 2011 (Investorideas.com Energy Newswire) - www.InvestorIdeas.com, a leader in sector research including oil and gas stocks, releases a trading alert for Oil and Gas stocks June 22nd. Oil closed at $ 94.48 +0.26 +0.28%.
American Petro-Hunter Inc. (OTCBB:AAPH) just a week ago announced that that the well completion program is fully underway and that production testing of the Mississippi oil formation is currently ongoing at the recently drilled NOM1H Horizontal well at the Company's growing North Oklahoma Project. The well is being readied and prepared for the onset of commercial production.
PostRock Energy Corporation (NASDAQ:PSTR) announced on Tuesday that it will buy 24.5% stake in Constellation Energy Partners LLC.
PostRock Energy Corporation ("PostRock") today announced that it had agreed to purchase all of Constellation Energy Group, Inc.'s CEG +0.61% interests in Constellation Energy Partners LLC CEP will acquire 5,918,894 Class B Member Interests, representing approximately 24.5% of that class along with all outstanding Class A, Class C and Class D Member Interests.
In the transaction, PostRock will receive all of CEG's voting rights, including its right to appoint two of the five members of CEP's Board. CEG will receive consideration comprised of $11.25 million of cash, $11.25 million of PostRock common stock and warrants to acquire an additional 1.5 million shares of PostRock common stock at a premium to market. Closing is subject to approval of the transaction by the independent directors of CEP and a vote by PostRock's shareholders. In the PostRock vote, White Deer has pledged the support of its 45% voting interest. PostRock and CEP both have the majority of their assets and operations in the Cherokee Basin of Kansas and Oklahoma.
Western Refining, Inc. (NYSE:WNR) was upgraded to buy from hold at Deutsche Bank, which has a price target of $24.
Western Refining has begun operating the 17 Catalina Mart stores it acquired from the Loma Catalina Co. earlier this month, according to an El Paso Times report.
The company will re-brand the stores to its Giant brand, but will keep their Chevron- and Shell-branded gasoline, said Gary Hanson, spokesman for Western Refining.
Oil & Gas Stocks Sector Trading Snapshot
- American Petro-Hunter Inc. (OTCBB:AAPH) closed higher by 0.010 (2.13%) at $0.48.
- PostRock Energy Corporation (NASDAQ:PSTR) jumped 0.56 (10.33%) and closed at $5.98.
- Western Refining, Inc. (NYSE:WNR) ended the day at $17.52, up 1.71 (10.82%)
- Devon Energy Corporation (NYSE: DVN ) fell 0.13 (-0.17%)to closed at $78.09.
- Cimarex Energy (NYSE: XEC ) rose 0.08 (0.09%) to ended the day at $85.72.
- Continental Resources, Inc. (NYSE: CLR ) closed at $61.13, down 0.29 (-0.47%).
- Dune Energy, Inc. (OTC:DUNR) surged 0.020 (3.08%) to $0.67.
- Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) rose 0.96 (2.61%) to $37.77.
The Company is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. The Company is in production at the Poston Project in Trego County, Kansas and the North Oklahoma Project. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the "hunt" for domestic petroleum assets. www.americanpetrohunter.com.
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American Petro-hunter Inc. (AAPH.OB) showcase energy stock on Investorideas.com and energy portals and blogs (averages two thousand per month)
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Disclosure, Disclaimer/ AAPH is a paid advertising client on Investorideas.com.
American Petro-hunter Inc. (AAPH.OB) showcase energy stock on Investorideas.com and energy portals and blogs (averages two thousand per month)
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