Oil is burnin HOT right now...especially small cap oil, and the best time to buy is when you can ride the hype is... SO...
Just a heads up:
Im looking at taking a buy position on Lucas Energy.
LEI- $3.12
Out of all the small caps, this one looks best because it seems to have legit news:
The independent oil and gas company announced the completion of the Hilcorp Energy-operated Eagle Ford horizontal well. The well is expected to be put on production in a few weeks and Lucas expects it to meet or exceed expectations of 500 barrels of oil per day. That will increase its net production, cash flow and net produced reserves significantly, the company said.
Basically they buy old wells and use modern technology to side drill to get the oil out...apparently the old way they did wells, as much as 50% of the oil in the well! So these old wells are basically useless until this technology was employed....LEI gets cheap wells no one wants, wells that produced, side drills and makes money! Sorry, dont want to sound like a pumper, since I will be in and out on this one..
Also it a nice low float. A couple weeks if this news is solid, news that could increase their revenue dramatically, this could be a quick double up or more! If news is bad or non existent then the hype from now should at least net us a little gain...If I can pick it up under $3 trending north, I think im in.
Remember to always use a stop loss ...
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