The dawning of a new year is the perfect time to assess the investment portfolio and identify attractive stocks. At Business Review Canada, we can’t fix your portfolio, but we have taken the time to identify stocks that deserve your attention. From now to Sunday, we will list a new stock and why you should be bullish.
Number 6: Ivanhoe Energy
Energy and commodity stocks are looking attractive in 2011 without any extra help, which is why the news out of the Ivanhoe Energy camp last week is particularly exciting.
Ivanhoe Energy Inc. announced a ‘significant’ gas discovery at Sunwing’s Yixin-2 well in Southwest China, last week. The discovery could be a boon for the publically-traded Canadian company.
Gas from the well flowed at rates of up to 13 million cubic feet per day, and averaged 9 to 10 million cubic feet per day during the initial 24-hour test period. Gas is flowing from the Xu-4 Formation, a well established gas-producing formation in the region.
Sunwing’s 659,840-acre (1,031-square-mile) Zitong Block is in the Sichuan Province; the oldest and one of the most productive gas-producing regions in China. Sinopec and PetroChina have made significant gas discoveries from the Xu-2, Xu-4 and Permian formations in adjacent blocks.
Sunwing is the operator of the Zitong exploration block in Sichuan and holds a 90% Contractor Interest in a Petroleum Contract with PetroChina Company Limited. Mitsubishi Gas Chemical Company of Japan holds the remaining 10% Contractor Interest.
We are not putting a ‘buy’ tag on Ivanhoe Energy just yet, but the energy sector is expected to perform well and any positive developments will only make the Company’s stock more appealing.
Number 6: Ivanhoe Energy
Energy and commodity stocks are looking attractive in 2011 without any extra help, which is why the news out of the Ivanhoe Energy camp last week is particularly exciting.
Ivanhoe Energy Inc. announced a ‘significant’ gas discovery at Sunwing’s Yixin-2 well in Southwest China, last week. The discovery could be a boon for the publically-traded Canadian company.
Gas from the well flowed at rates of up to 13 million cubic feet per day, and averaged 9 to 10 million cubic feet per day during the initial 24-hour test period. Gas is flowing from the Xu-4 Formation, a well established gas-producing formation in the region.
Sunwing’s 659,840-acre (1,031-square-mile) Zitong Block is in the Sichuan Province; the oldest and one of the most productive gas-producing regions in China. Sinopec and PetroChina have made significant gas discoveries from the Xu-2, Xu-4 and Permian formations in adjacent blocks.
Sunwing is the operator of the Zitong exploration block in Sichuan and holds a 90% Contractor Interest in a Petroleum Contract with PetroChina Company Limited. Mitsubishi Gas Chemical Company of Japan holds the remaining 10% Contractor Interest.
We are not putting a ‘buy’ tag on Ivanhoe Energy just yet, but the energy sector is expected to perform well and any positive developments will only make the Company’s stock more appealing.
