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Kodiak Oil & Gas Corp (KOG) - Bakken Shale - Oil
I came across some more big news afterhours tonight out of a small oil company, Kodiak Oil & Gas Corp (KOG). For those who don't know, North Dakota is sitting on a large oil patch called the Bakken Shale. Kodiak Oil & Gas just bought a bunch more acreage and this could lift the stock over the next 3-6 months. This is the type of news thats sends a stock from $4 to $8 in 6-12 months so stick it on your watchlists.
http://www.oilshalegas.com/bakkenshale.html
http://www.bakkenshale.net/threeforkssanish.html
Kodiak Oil & Gas Corp. Agrees to Acquire Producing Properties and Undeveloped Leasehold; Transaction Expected to Significantly Expand Core Williston Basin Presence
Transaction Highlights Include:
-- Large and Contiguous 23,133 Gross/ 14,494 Net Acre Positions
-- ~60 Net Bakken / Three Forks Drilling Locations
-- High-Working-Interest, Operated Properties
-- ~500 Net BOE Per Day
Kodiak Oil & Gas Corp. (NYSE Amex: KOG), an oil and gas exploration and production company with assets in the Williston Basin of North Dakota and Montana and in the Green River Basin of southwest Wyoming, today announced that it has entered into a definitive purchase and sale agreement with a private oil and gas company to acquire high-working-interest, contiguous Bakken/Three Forks Williston Basin leasehold and producing properties. Total consideration for the transaction includes $99 million in cash and the direct issuance of 2.75 million shares of common stock to the seller at a price of $4.00 per share. Kodiak expects to fund the cash portion of the transaction through available cash balances and through borrowings under credit facilities which would include an expanded reserve-based, revolving line of credit and a second-lien term loan
http://kodiakog.investorroom.com/index.php?s=43&item=125
Tags: bakken, gas, kodiak, kog, oil, shale, stock, stocks
Views: 7049
Replies to This Discussion
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Permalink Reply by Stocks To Buy on -
Kodiak Oil & Gas Corp (KOG) breaking out today, up 7.3% to $4.27. Was $4.42 earlier. KOG will probably become a teenager in 2011
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Top MemberPermalink Reply by James Bond on -
Hey Tim-- Are you buying KOG here in the mid $6.5? When is KOG earnings? Thanks.
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Permalink Reply by Stocks To Buy on
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Finally bought some Kodiak Oil & Gas Corp (KOG) today..... with Oil surging near $90 now and this company turning another profit, the stock could be getting ready to break through the current 52 week high ( $4.55 ). Trading at 15 times forward earnings ( 2011 ). BEXP is trading at 26 times forward earnings
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Permalink Reply by Stocks To Buy on
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KOG gapping higher and ready to rip - 52 week high just tested at $4.55
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Permalink Reply by Stocks To Buy on
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Some more comments on KOG of mine --
The fundamenals are really good, record revenue and they are getting aggressive in the Bakken Shale which will produce for the next 10-15 years, tons of oil. The thing I am finding is that companies are finding other zones around that area so KOG might have reserves we don't even know about.
They are profitable and adding more acreage. The stock didn't budge on a downgrade several weeks ago and just hit a 52 week high at $4.55....as soon as it can close above this level, it will test $5. It's a solid small oil play
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Permalink Reply by larry mcgee on -
I reviewed this stock on MSN Stocks. Hopefully KOG will really take off.
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Permalink Reply by Stocks To Buy on
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I am up about 8%
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Permalink Reply by aaron moeller on
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I'm in at $4.36. Nice 52 week high today. What's your target price on this Tim?
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Permalink Reply by larry mcgee on
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Please review Stock Scouter on MSN. Enter KOG, then go to Expected Risk/Return Compare.
I believe you will be surprised.
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Permalink Reply by aaron moeller on
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1996% percent increase in share price by next fiscal year... I don't see how they can expect that.
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Permalink Reply by larry mcgee on
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If the share price increase is 150% in eight months, I will be satisfied.
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Permalink Reply by aaron moeller on
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that would be nice
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