Entek Energy had 2 million in March quarter sales and is starting to look interesting with cash flows from the first High Island well in the Gulf of Mexico. ETE also has small oil production from the Cooper Basin. They have recently been awarded new GOM leases to further exapns their leases in the prospect. ETE has 2.8 million in cash.
Technical Info:
ETE has formed a small ascending triangle during May and looks set to break out. OBV has risen steadily over the last 9 months indicating that buys are accumulating the stock. Volume has also been steadily higher over the last few days. Look to buy half your parcel between $0.19 and $0.20 and the balance on a break of $0.20.
Hope this helps...
ETE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
