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Gold/Mining/Energy : The Oil & Gas Elephant Hunt

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From: Brinks11/30/2006 12:51:55 AM
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Encana and Delta DPTR Columbia River Basin

Another David Pescod out today:

DELTA PETROLEUM (US:DPTR) $30.04 +0.98

I guess we shouldn’t dwell on this stock this much, but then again, why not? When you have someone like Eric Sprott suggesting that if he could only buy one stock, this would probably be it. The chart over the last three months tells you that this thing has gone almost straight up and of course the key is speculation.

Delta Petroleum is involved in three high risk/high reward areas in the United States, but one of them stands out above them all and that’s the Columbia River Basin in Washington State. Incredibly, a well drilled that has taken almost two years to drill is now being tested, and results are expected by Christmas.

In the meantime, if this Washington-area play is found to be gas-charged in the numbers that some people seem to be tossing around so easily, this could well develop to be one of the plays of the year and Eric Sprott’s faith in this stock could
be well rewarded.

Once again, some of the target numbers that are being bounced around these days are becoming astronomical and you can tell by the volume of stock trading that people are definitely paying attention.
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