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Wall Street Grand Report
Company: Signature Exploration and Production Corp. (OTCBB: SXLP)
Current PPS: $1.10
Oil is on a tear recently! Just today, oil had a breakout past $82 to hit a high of $82.47 a barrel! Investors are on the prowl for a new undervalued small cap oil play and today we found a direct target with our new oil pick Signature Exploration and Production Corp. under ticker symbol SXLP.OB. SXLP closed today strong at $1.10 and traded over 268k in volume which shows that the investment community has started to take high interest in this stock which in our opinion shows that this is set to head higher in the upcoming days.
SXLP is an independent energy company engaged in the exploration, development, exploitation and acquisition of on-shore oil and natural gas properties in conventional producing areas with a focus along the gulf coast of Texas. Our strategy is to continue making acquisitions of select properties that have been identified as economically attractive, technically and geologically sound and have significant upside potential.
SXLP just had news out today that it has entered into a letter of intent with EnerJex Resources (OTC Bulletin Board: ENRJ.OB) ("EnerJex") to form a joint venture partnership in a lease ("Lease" or "the property") located in Franklin County, Kansas.
The Lease lies on 214-acres and currently has 24 producing oil wells, two (2) water injection wells and two (2) temporarily abandoned, previously producing wells. According to an independent engineering assay report issued in 2008, cumulative production on the property was 64,499 barrels of oil, and estimated total probable reserves were 91,845 barrels of oil. Learn More here- http://finance.yahoo.com/news/Signature-Exploration-and-prnews-3446273375.html?x=0&.v=1
Over the weekend SXLP announced a research report issued from Grass Roots Research and Distribution which gave SXLP a price target of $2.35! Now I do not know if SXLP will go to $2.35 or how long it will take to get there but I do believe we could see SXLP become a huge short term winner for us this week. Actually, tomorrow could be a huge day for the stock after seeing the news that was issued after the close.
SXLP only has a market cap of under $5 mm right now! This is extremely low and proves to me that SXLP has some significant upside potential if they can execute on their production.
SXLP currently has leases or interests in seven prospects across four states. SXLP has acquired a 15% working interest in the Koliba Prospect which is a 173-acre lease located in the highly productive North McFaddin Field near Bloomington, Texas. The Company has identified 3 target zones at 5,880', 5,350', and 4,930', in the Frio Sands. The Koliba Prospect will be drilled 250 feet from an originally large producing well and is considered a low risk / high reward prospect due to its proximity to previous wells in the prolific Frio interval. The prospect has two potential targets for drilling, which
previously have produced over 500k bbls!
There is so much opportunity for SXLP's oil fields surrounding its Koliba Prospect in Victoria County, Texas!
The Placedo, Heyser, McFaddin, Hog Bayou and E. Sheriff fields, which are located in Victoria and Calhoun Counties of South East Texas, have already produced approximately 159 million barrels of oil and 1.8 trillion cubic feet of natural gas according to the Texas Railroad Commission's records!Based on current prices of over $80 a barrel of oil and about $6 Mcf of gas, the cumulative production of crude oil and natural gas would be valued at approximately $23 BILLION!
"Multi-billion dollar oil and gas production within Victoria and Calhoun Counties makes the Koliba well (which is located in Victoria County) ideal for the Company and our stockholders," Steven Weldon, Chairman and CEO of Signature Exploration and Production Corp., stated. He concluded, "With the land surveys complete, we are moving forward on this exciting prospect which is set to drill in a few weeks."
SXLP is starting to gain momentum and could start to breakout tomorrow so pay close attention!
Only about 2 months ago SXLP had a major rally to run as high as $1.95! The upside potential is there!
Add SXLP to your radar RIGHT NOW!
More Updates To Come ...
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Offices are open Monday - Friday, 9:30 am-4:00 pm EST
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