Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, January 25, 2013

Article Excerpt

BELLATRIX EXPLORATION, $4.97, symbol BXE on Toronto, is up over 21% this week after it announced a joint venture agreement with an unnamed South Korea-based investment fund. This deal should speed up development of Bellatrix’s undeveloped Cardium shale oil deposits in west-central Alberta. The South Korean partner will pay $150 million for 33% of production from a planned 83-well drilling program. In addition, Bellatrix will now spend a total of $230 million to $240 million on exploration and development this year, up from its earlier forecast of $180 million. The company expects its daily production to average 24,000 to 25,000 barrels of oil equivalent (including natural gas) per day this year. It could also end 2013 with production as high as 30,000 to 31,000 barrels per day. To put that in perspective, Bellatrix likely ended 2012 with average production of 19,000 to 19,500 barrels a day. Bellatrix Exploration is still a buy. Bellatrix Exploration was recently covered in the Stock Pickers Digest Hotline for…