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Undervalued Oil & Gas Stocks > Group's Default Discussion > Galleon Energy (and Cameco) View modes: 
  • Galleon Energy (and Cameco)

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    I have been following Galleon Energy, T.GO, and it may be the most undervalued intermediate sized producer in Canada. A hedge fund bought 19% of the company and started to pressure the company to sell itself or at least implement other changes that would add value to the company. It seems that the company responded by doing a year of boring reservoir development drilling, with no new exploration, all to help their balance sheet, and maybe also in response to being criticized. The hedge fund eventually sold out of their positions. Now the company is drilling on a couple of potentially interesting targets that will be included in the first quarter update, first week of May.

    Also on the subject of energy. We should be aware that the uranium miners are set for a rebound tomorrow, with a second sell off to test their bottoms resulting in serious support, and in the case of Cameco, CCJ, with a morning star doji pattern on the chart at the close today. Couple this with better news coming from Japan, and it looks like the uranium sector is overdue for some uptrend over at least the next couple weeks:

    There is a new press release from Japan today:

    "All 6 units of thenuclear power station have been shutdown..."

    http://www.tepco.co.jp/en/press/corp-com/release/11032911-e.html



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