If you are looking for undervalued oil juniors, I would suggest to check the following 3:
1. Canadian oil properties: Aroway Energy - ARW (TSXV)
2. US oil properties: Gale Force Petroleum - GFP (TSXV)
3. Australian oil properties: PetroFrontier - PFC (TSXV)
Near term catalysts:
ARW:Q1 (Jul - Sep 2013) to be released around Nov 29, 2013 - likely they will report a very good Q; drilling and upgrade operations to start with near term probability of production increase, all licenses in place for Kirkpatrick and West Hazel; 2 wells, one drilled in Kirkpatrick and one at Little Bow to be tested this year;
PFC: Statoil operator carrying PFC, while PFC having no debt and money in the bank. Any rumor that Statoil finding oil in Australia JV properties will result in fast share price appreciation.
Note: ARW undervalued when compared with similar Alberta junior producer:
ARW vs HME - comparable number of shares outstanding, comparable production average close to 500boed (to be confirmed for Jul - Sep Quarter), while ARW scoring better at debt by having a much smaller debt, ARW scoring better at oil percentage of the total production ARW 95% oil, HME 80% oil ... share price ARW trading at .20 and HME at .60 ... interesting to say the least, worth watching
This is not a recommendation to buy, sell, or hold of any stock, just a few DD pointers. Please do your own DD. Good luck!
Disclosure: I am long OTCPK:ARWJF.
Additional disclosure: I am long ARW (TSXV), GFP (TSXV) and PFC (TSXV).