Topic: How To Invest

Good day, Pat: Can I please have your opinion on New Zealand Energy Corp.?

Article Excerpt

New Zealand Energy Corp., $0.25, symbol NZ on Toronto (Shares outstanding: 170.9 million; Market cap: $32.7 million; www.newzealandenergy.com), produces oil from nine wells in New Zealand’s Taranaki Basin area. Its share of these operations’ output averages 236 barrels a day. The company expects to start up three more wells early this year. It also plans to drill additional exploration wells in both the Taranaki and East Coast basins in 2014. New Zealand Energy aims to end 2014 with production averaging 2,300 barrels of oil a day, but it’s uncertain whether it can achieve that. At this stage of its development, New Zealand Energy has only limited speculative appeal. We don’t recommend the stock. …