Gediminas Jasionis

Opal Energy Corp. (PINK:OPAFF) Shows Some Life Signs

by Gediminas Jasionis March 3, 2010
opal_logo.jpgVancouver based Opal Energy Corp. (PINK:OPAFF, OPAFF message board) wasn't too bright in the news lately, however, scarce sources have reported the company's engagement in a new venture with Listed Ventures Ltd. It will cost them $60 thousand over the coming half a year plus some leasing costs for a 50% interest in exploration and development of New Zealand based oil and gas properties.

The poorly traded stock added 140% as the news reached some traders, but in general is still not known to the general public. Since the company is trading in the grey market it's difficult to imagine some more action going.

What we know is that Opal operates through Opal Energy Inc. subsidiary reportedly holding assets worth between $5 million and $25 million. We know the company can afford to pay 60 thousand dollars for new projects and we know the management has come out to update their operation plans so more clearance might be expected in the future.

On the bad side, we may guess the company's business is not going too well or they would be willing to report and see their stock price grow. Their stock is barely traded and is not recommended for trading in the first place. The news is about a deal that might not bear any fruit. All too speculative at the moment but should be placed on a watch list as things are at least moving.

Reference:

Company and subsidiary profiles

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