Huntington Beach, CA (PRWEB) July 1, 2008
"NCEY has an incredible upside" Says MarketCaliber.com Sr. Analyst David Clark, "I haven't been this excited about a company in a very long time. At its current trading price of $0.48 per share, I strongly believe that NCEY is an absolute steal."
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NCEY has seen increased growth in the last month, and the MarketCaliber.com team has identified 3 major factors that suggest that NCEY will continue its upward trend.
#1 Recent Discovery of New Oil:
On June 11, 2008 New Century Energy Corp. announced another new oil discovery resulting from its ongoing drilling program in McMullen County, Texas.
"When a domestic oil company finds new reserves for crude oil in a tapped market we should all benefit." Says MarketCaliber.com CEO James Henry, "By adding more barrels to their daily output we anticipate that New Century Energy will experience increased revenue, which in turn may increase the stock price. And with the price of oil hitting an all time high and probably on its way to $200/barrel, NCEY doesn't have to be the only one that benefits."
Henry continues, "Investing in crude oil and gas should always be an important part of any energy portfolio, and especially now. The potential to gain back your hard-earned money spent at the gas pump is greater than ever with NCEY."
#2 Positive Financial Results:
Companies in the OTC BB markets can have mixed financial results, either because they are in an industry that is experiencing a downturn, or are a brand new company with more expenses than income for projects that will increase growth over the long term.
"What we like about NCEY is that, not only have they been in business since 1985; their financial outlook is very positive in a slow economy. They have continued plans for growth as any strong company should," Says analyst David Clark.
#3 Increase in Volume:
The average number of NCEY shares traded on a daily basis has increased 130 times over the April '08 average volume. "We rarely see numbers this great!" says Clark, "Volume is a huge indicator in how a stock will perform in the long term and NCEY looks as if it will continue this trend well into 2009."
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NEW CENTURY ENERGY CORP, headquartered in Houston, TX, is an independent oil and gas exploration and production company, with daily net production to its working interest of approximately 750 barrels of oil per day (Bopd) and 1.950 million cubic feet of gas per day (Mcfgpd). The Company's proved reserves as of December 31, 2007 are 1,613,000 barrels of crude oil and 3.0 billion cubic feet (Bcf) of gas. The Company's major areas of operations are located onshore United States, primarily in Matagorda, McMullen, Goliad and Wharton Counties in Texas.
During 2007, The Company's proved oil reserves increased by over 88% due primarily to drilling success of new oil reserves in the Mustang Creek Field area in McMullen County, Texas and favorable well performance. Proved developed oil reserves now equal 1.3 million barrels, and comprise 80% of the Company's 1.6 million barrels of total proved oil reserves.
The Company currently has approximately 20,700 gross acres and 19,000 net acres of oil and gas leaseholds on shore in Texas.