Somehow I missed this one. Mike Filloon looks at Triangle Petroleum after earnings came out. This was
posted at SeekingAlpha.com a couple days ago, May 2, 2013. Somehow I missed it.
Of all the operators in the Bakken, Triangle may be the most interesting. Not only because of how quickly it has
grown, but where it came from. When it first began purchasing acreage in
North Dakota, it already had sizeable acreage in Nova Scotia. This
410,000 net acres is in a gas dominated area, and at this time is not
economic.
I first covered
Triangle in February of 2011, and the stock has not performed well over
this time frame. For those who have traded it, there has been some
money to be made. Triangle is stuck in range and right now is a very
good time to accumulate shares.
Triangle and Kodiak are both top Bakken stock picks
for 2013. When I initially made the call, I recommended waiting for a
buying opportunity in both names. Now that both are selling at a
discount it is a good time to accumulate shares. Two other stocks I like and own are Bonanza Creek and Synergy Resources.
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