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CONTRARIAN STRATEGY UPDATES - April 30, 2009
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Endeavor Power (EDVP) has retained its “Fast-Track” status as a Strong-Buy since our start of active coverage last month at the $0.50 range. During today’s trading, EDVP shares reached an intraday high of $1.50 representing a near triple in just 6 weeks. I fully expect Endeavor to trade substantially higher over the next few business quarters – yet it is imperative that you, as part of our Internal Audience, adhere to our stated mantra of protecting profits on the way up. Thus, for those who followed me on EDVP at lower price-levels – now is the time to take initial “partial profits” off-the-table. If you’ve yet to establish a position in Endeavor Power, buy EDVP now up to $1.75.
Endeavor Power continues to release positive results from its 51% owned Patrick Henry Oil Project, Oklahoma, where the company has now placed its 8th well into active production. The company has also announced that up to an additional 187 wells are initially being targeted under the current joint venture with Federated Energy. Already, Endeavor’s current estimated resource at the Patrick Henry Lease is approximately 1 Million barrels of oil – or around $50 Million at current oil prices. I project that this resource estimate can increase by up to $30 Million per every 10 wells completed. Thus, with over 180 wells now within Endeavor’s sites – EDVP could attain up to $450,000,000 in resource value within a relatively short timeframe.
Further, Endeavor announced today its intent to acquire a working interest in the Beck Lease – an oil and gas development and reactivation project located in Bexar County, Texas. This pending acquisition aligns perfectly with our previously stated projection of Endeavor’s near-term entry into key petroleum basins across the United States. The Beck Lease comprises nearly 300 acres with current production from 3 active wells along with 6 additional wells slated for production in the immediate term.
If you followed my March/April buy-instructions on Endeavor Power, you now have an opportunity to protect initial “partial-profits” near a triple: Hold the remainder of your EDVP shares for the longer-term. If you have not yet jumped on the EDVP Profit-Train – there’s still time to establish your early position up to $1.75 per share. To receive our forthcoming Profit-Protect Points on EDVP shares, please log onto www.StockProfitCompass.com. You can also access our Endeavor Power active-coverage page at www.ContrarianPress.com/EDVP . << BACK TO HOME PAGE | ARCHIVES >>
This publication is based exclusively on information generally available to the public and does not contain any material, non-public information. Information is obtained from sources believed to be reliable, but the information cannot be guaranteed as to its accuracy or completeness. The author is not, and does not purport to be, a registered investment adviser and does not accept compensation from publicly traded companies in return for his commentary. The objective of this newsletter is to present Situational Analysis and to provide progressive implementation of the author’s proprietary Situational Strategy Templates. No statement or expression of opinion, or any other matter herein, directly or indirectly, shall be construed as an offer to sell or the solicitation of an offer to buy the securities mentioned. Readers should not view this publication as offering personalized investment advice, and must individually determine the suitability of investments discussed for inclusion in their own portfolio. Past performance does not guarantee future results. Reprints or redistribution of this copyrighted material is allowed only by written permission from the Nat-Con Publishing. To opt-out from receiving future publications, please click here. |
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