Seeking Alpha
Editor's notes: A prudent management team operates this unique, cash-flow positive producer. The new project, along with an improvement in local pricing should push shares of PXX.TO above $3.00.

(Editor's Note: Investors should be aware that trading of BLKPF is illiquid. Investors interested in taking a position would be encouraged to consider the PXX.TO listing on the Toronto Stock Exchange for higher liquidity.)

Executive summary:

  • BlackPearl Resources' strong recent share price performance despite a difficult oil price environment has caught our attention.
  • The company has solid and growing cash flow from two producing assets and two highly attractive growth projects.
  • The Blackrod project is a potential company maker.
  • BlackPearl Resources currently appears undervalued, and timing seems opportune for an entry.
  • Several catalysts should lead to attractive gains throughout 2014, and well beyond.

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BlackPearl Resources (OTCPK:BLKPF) is a junior oil exploration company with heavy oil and oil...

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