Monday April 07, 2008
Kevin Kennedy uses a momentum strategy, based on both technical and fundamental strength. The latest buy in his Coolcat Report is oil & gas firm, BPZ Resources (ASE: BZP).
"BPZ Resources, our latest 'pick of the week,', based in Houston, is an oil and gas exploration and production company which has exclusive license contracts for oil and gas exploration and production covering approximately 2.4 million acres in four properties in northwest Peru.
"The company is currently executing the development of the Corvina oil discovery and the redevelopment of the Albacora oil field, in parallel with the execution of an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and sales of gas into Ecuador for third-party power generation.
"It also owns a minority working interest in a producing property in southwest Ecuador. fits both our super small cap and our mightly mid cap portfoliosa, as wel
"With a market cap fo $1.44 billion, the stock qualifies for both our 'super small cap' and our 'mighty mid cap' portfolios. BZP is up 74% year-to-date and has gained 341% since the end of July 2007. The stock has pulled back from its 52-week high of 23.20."
