Oil exploration company Bald Eagle Energy, Inc. recently showed how a little oil stock can, like gold, do remarkable things. Even though the sluggish economy has brought oil prices down to earlier levels, oil stocks can also be viewed as having a counter-cyclical element. From 2/19 to 2/24, the Dow Jones Industrial Average made another new low, causing some investors to again start using the term “depression”. Little noticed was that, during the exact same time, BEEI jumped over 37%.
Unlike the major oil players, Bald Eagle Energy is a small, largely unexposed company, still under the radar of many investors, and with a share price to match. And yet the company has positioned itself to reap potentially huge gains by securing leases on over 18,000 acres right next door to the biggest oil field in North America, Prudhoe Bay.
The fact that the company has managed to find a seat at one of the biggest oil tables in the world, Alaska’s North Slope, can only strengthen its appeal as the economy struggles to a brighter future. Alaska’s North Slope Basin is still estimated to have some 27 billion barrels of already discovered recoverable oil, and the Bald Eagle lease acreage could collectively total up to 90 million barrels of recoverable oil according to a third-party geological report.
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