Louis Navellier: GTE stock of the week June 9
navelliergrowth.investorplace.com
navelliergrowth.investorplace.com
Any Investing 101 class will teach you that the best stocks are the ones with a bright future, not just a company with stock ratings that shine in the present. You get the best of both worlds with my stock pick of the week, Gran Tierra Energy, Inc. (GTE). Gran Tierra is a Canada-based oil and gas energy company that explores, develops and produces its products in Colombia, Argentina and Peru. GTE's strategy focuses on enhancing its production properties to provide a foundation for future growth. And with soaring crude oil prices, the potential for profitable investment is sky high!
GTE's financial position continues to improve, especially when we consider its steady uptrend over the past eight months. Last week, GTE's stock gained almost 5% and is up 43% for my Global Growth subscribers since we purchased it two months ago. The company's first-quarter earnings showed an increase in productivity and profitability, and its numbers are still going strong. Tierra reported revenue of $20.7 million which was 385% more than over the same period last year!
Not only is the company wrapping up drilling projects throughout South America, it's embarking on new ones. For example, GTE is mobilizing a work-over rig to re-enter and test an oil well in Colombia's Putumayo Basin that was originally drilled in 1996. The testing operations are set to be completed by the end of June, and GTE plans to fully develop and produce oil from the resources it expects to uncover.
Additionally, GTE plans to drill three additional wells in Colombia and one exploration well in Argentina throughout the rest of 2008. What's more, GTE can financially support its ongoing operations with cash from existing operations.
Recent stock market news shows that South America is a hot spot in general, and this stock is a leader of the pack. If you're an investor who wants to learn more about which Latin American companies I'm recommending to my subscribers, join Global Growth today!
PS> my note,Solana Resources SOR.v / SORFF.pk - 50% partner to GTE on the Chaza and Guayuyaco blocks is trading at C$4.42 - a C$2.20 discount to GTE C$6.60 |
