Palisades Petroleum Corp. (OTC: PAPT) has been rated “Speculative Buy” with a target price of $0.85 by Beacon Equity Research.
The full report is available at http://www.BeaconEquityResearch.com
In the report, the analyst writes, “Palisades Petroleum Corporation (PAPT) is a junior oil and gas exploring and production company developing promising oil and gas properties in Montana, North Dakota and South Dakota, Wyoming and Colorado. Its business plan entails financing early-stage and advanced stage projects, then working with joint venture partners to finance and operate the appropriate drill programs.
To date, the Company has assembled several promising early-stage oil and gas properties in Montana, including the North Buffalo prospect in Chouteau County. The Company has already drilled one well on this prospect, which is producing at a rate of 283,000 cubic feet of natural gas per day, and shipping natural gas production. Palisades believes this prospect could support up to six gas wells, each producing up to 300,000 cubic feet of natural gas per day, and plans further drilling activity in 2007. Its long-term plan is to explore and develop oil and gas projects in North Dakota, South Dakota, Wyoming and Colorado.”
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