Octagon 88 Resources, although a newer player to the Canadian oil sands, the company has already begun making headway in developing and exploration of its properties.
(PRWEB) April 18, 2013
Octagon 88 was featured by the Motley Fool, a multimedia financial-services company. The Motley Fool offers insight and advice into trending companies to help make investment decisions. In the article, “Why This European Oil Major’s Shares Are Looking Attractive For Investors” Divyesh Dhanani discusses the Canadian oil sands as well as the major companies with a stake in the area. Octagon 88 is mentioned along with BP, Suncor Energy, and Cenovus Energy. All four of the companies have a stake in the Canadian oil sands and will be major developers in the Alberta province as the oil sands projects progress. Dhanani also mentions that every company is currently trading below their price target.
The article highlights Octagon 88’s recent successes in coring their first well, and the subsequent results of testing. Mentioning that Octagon 88 is a newer investor and developer in the Peace River Oil Sands, the Motley Fool mentioned that Octagon 88 has acquired a significant stake of CEC North Star. Of Octagon 88’s involvement with the Peace River Oil Sands, Divyesh Dhanani wrote, “Octagon 88 Resources, although a newer player to the Canadian oil sands, acquiring interests in the sands in 2012 and 2013, the company has already begun making headway in developing and exploration of its properties through a 33% ownership stake of CEC North Star.” Further, Mr. Dhanani quoted the results of the core sample test, illustrating the optimism and excitement of the continuing development of the oil sands.
In the evaluation of the stocks of the different companies, the author of the article notes that currently large gains are to be had in investing. Currently BP, Suncor Energy, and Cenovus Energy are all trading below their price target by nearly $10, opening a great opportunity to invest. Octagon 88 is currently trading at $8.41. With the likely price target of the low $40s for the other companies, it is no great leap of the imagination that Octagon 88’s stock will continue to rise. Over the course of the last month the stock prices have risen from $3.25. A significant portion of the increase can be attributed to the positive results of the core sample tests.