IRVINE, Calif., Feb. 27, 2009 (GLOBE NEWSWIRE) -- Over the past decade, oil prices have captivated the attention of nearly every American. This isn't surprising since oil has risen from less than $15 per barrel to over $150 in that period, generating massive profits for oil companies and those that invest in them. As many predicted, that lofty price wasn't sustainable in the current worldwide recession, and since summer of last year, oil prices have fallen as much as 76%.
This precipitous price drop has sent shock waves through the oil industry which had grown comfortable with the seemingly never ending profits. Now with oil prices hovering around $40 per barrel, many oil companies are cutting production and investment to reduce the available supply of energy, subsequently increasing the cost of oil as the demand/supply ratio rebalances in their favor. And OPEC has joined the move to cut production as well in order to shore up global oil prices.
It is a long-held investment axiom that movement in individual stocks is often a precursor to broader moves in the market. One of the largest gainers this week is Bald Eagle Energy, Inc. (OTCBB:BEEI), an oil and gas exploration company focused on Alaska's vast energy resources. With a price move of over 84% since last week on big volume, clearly Bald Eagle has captivated investor attention.
The abundant opportunities and potential that exist within the oil exploration industry are long established and the attendant risks and rewards are often the topic of pundits and experts within the financial community. Some have noted that Bald Eagle's recently-purchased acreage may have multiplied the company's potential valuation to 356 times the current number. A third-party geological survey estimates the property holds 90 million barrels of oil, plus trillions of cubic feet of natural gas. This makes Bald Eagle and its property on the oil-rich North Slope of Alaska, a worthy story. A commentary on Bald Eagle is available here: http://www.winningstockpic.com
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