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10 Bakken Shale Stocks, 2010 Guide

|Includes: AOIX, AXAS, BRNC, CLR, COP, CRZO, DWSN, KOG, MRO, NOA, Oasis Petroleum Inc. (OAS), SM, STO, USEG, WLL, XOM

Had a few minutes to spare so I figured I would give a run down on what is going on out here. Enjoy if you like oil.
 
1. Oasis Petroleum LLC (expanding rapidly has tons of acreage in Bakken and Three Forks sweet spot, earnings and coverage next week best to get in on any dip) Has the best potential to be more valuable than current prices.

2. QEP (seperated from Questar now the oil and gas only, no pipeline.)

3. KOG (Kodiak Oil and Gas)- On Ft. Berthold Indian reservation small-cap driller is expecter to be a buy out target or grow substantially in coming years.

4. VYOG (Voyager Oil and Gas)- Is run by CEO of NOG, his brother is CEO in title. They do have some huge acreage that will be valuable in the future. Worth at least a $5 stock if oil levels remain elevated. Relatively unknown.

4. Whiting Petroleum (NYSE:WLL)- Not unknown but upside might be capped, strong production and plenty of money.

5. EOG Resources- Tons of Bakken acreage, profit. Upside might be limited though at this price, $102. One of the major players with money to push their leasing.

6.. Exxon (NYSE:XOM)- Seperate arm XTO has a good position in Bakken formation. Exxon should be $80 at least.

7. CLR (continental Resources)- Has large amounts of acreage, rigs, and drilling schedule. Profits should be steady and large.

8. Marathon Oil (NYSE:MRO)- Good safe play, has acreage near ours on the reservation and has the money to be involved in several other plays.

9. Conoco Phillips (NYSE:COP)- Undervalued, good long term hold. Very diversified and integrated.

10. AXAS (Small cap spec. play)
 
Others: American Oil and Gas (AEZ, getting bought out), USEG (relatively new, good potential for gains with wells producing large pumped up results), Carizo Oil and Gas (CRZO, getting some good analyst love but not sure of their location), BEXP (Neutral and not interested in buying, run up too much already and well results are based on shoddy figures.) SM Energy (formerly St. Mary's).
 
Also seismic companies are still lagging in value, Dawson Geophysical (NASDAQ:DWSN), Bronco Drilling Company (NASDAQ:BRNC), and others. On shore seismic and well equipment company's have been damaged by the "BP" effect.
 

Disclosure: Long OAS, KOG, VYOG.