oil companies

[zekthecat]

Hey there I haven't posted anything here for awhile (I am still over in Iraq). But I am looking for a list of oil companies that are penny stocks right now. If you know of any please post them here.

[BadThad]

I know there's quite a few, there's one penny stock in our forum already:

http://www.stockmarketcats.com/f2/pg...ng-otcbb-2534/

[Ray The Money Man]

Hey zekthecat,

Check out KOG. I don't know what you consider a penny stock [I consider any stock trading under $5.00 to be a penny stock] this one is trading under $3.00 right now. It has the volume to make it reasonably safe, unlike a lot of penny stocks. I ran some numbers, it might be good timing on this one.

[sg1efc]

Thought the stats in this report are very interesting:
More than 75 percent of Gulf oil cut off for storm - Yahoo! News

More than 75 percent of Gulf oil cut off for storm
August 30, 2008
NEW ORLEANS - More than three-quarters of the Gulf of Mexico's offshore oil production had been cut off Saturday as energy companies evacuated petroleum platforms in the face of Hurricane Gustav.

The federal Minerals Management Service, which manages offshore leases, said 76.8 percent of the Gulf's daily oil production of 1.3 million barrels, or 998,000, had been stopped. The platform shutdowns also cut off 37 percent of the Gulf's daily production of 7.4 billion cubic feet of natural gas, or 2.75 billion cubic feet.

The MMS said 223 fixed production platforms had been shut down and evacuated, along with 45 drilling rigs, which are mobile and explore for petroleum. The agency said 717 staffed production platforms and 121 drilling rigs are currently operating in the Gulf.

About 35,000 people work in the Gulf, staffing offshore rigs and production facilities, among other tasks, according to the MMS.

Forecasters said Hurricane Gustav could reach the U.S. Gulf Coast early Tuesday, and stands to cross many petroleum areas of the Gulf that took damage from Katrina and Rita about three years ago. Those storms destroyed 115 of the Gulf's 4,000 oil and gas platforms, damaged 52 others and triggered petroleum price spikes.

The Gulf produces roughly 25 percent of the nation's oil and 15 percent of its natural gas.

So maybe my VYEY will finally go back up.

[Ray The Money Man]

Monday morning and the storm is downsized to category 2. They are already headed back to the rigs and I just saw on Bloomberg that world oil futures are plummeting. Time to add to RIG and SLB Tuesday morning it looks like!