Topic: Growth Stocks

The Stock Pickers Digest Hotline – Thursday, July 3, 2008

Article Excerpt

OILEXCO INC., $17.94, symbol OIL on Toronto, rose as much as 11% last Friday after it discovered significant oil and natural gas bearing zones at its Moth project in Britain’s central North Sea. Drilling at the Moth well went to a depth of 14,616 feet. The well intersected a 605-foot-thick oil and gas-bearing reservoir and a second, deeper 219-foot reservoir. Test operations on the primary 605-foot target will begin immediately. Oilexco is the operator of the Moth project and holds a 50% interest. Its partners on the project are BG Group, Hess Oil and British Petroleum. The Moth discovery is Oilexco’s second major discovery in 2008. In February, it struck a new oil bearing zone at its 40%-owned Huntington field in Britain’s central North Sea. With strong oil prices for its rising Brenda/Nicol production in the North Sea, Oilexco’s outlook is positive. The company also continues to explore aggressively at its other projects in the North Sea, in addition to the…

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