Another Find for Oilexco

Article Excerpt

OILEXCO INC. $15.90 (Toronto symbol OIL; SI Rating: Speculative) (403-262-5441;; Shares outstanding: 219.8 million; Market cap: $3.5 billion) jumped recently after it struck a new oil bearing zone at its 40%-held Huntington field in Britain’s central North Sea. The well was part of additional drilling being done to evaluate the size of the multizone Huntington field, discovered in 2007. Oilexco will now speed up the development of the Huntington project in response to this latest discovery. It expects to apply for regulatory approval by mid-2008 to develop the field. Oilexco is still a buy for aggressive investors investors…

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