Topic: How To Invest

Hi Pat: Could I get your opinion on a stock called Azabache Energy?

Article Excerpt

Azabache Energy, $0.14, symbol AZA in Toronto (Shares outstanding: 145.0 million; Market cap: $20.3 million; www.azaenergy.com), formerly Argenta Oil & Gas, is a junior exploration company engaged in the acquisition, exploration and development of petroleum and natural gas properties in South America. Azabache was founded in 2005 and is headquartered in Calgary. The company has interests in four properties in Argentina (Loma El Divisadero, Covunco Norte, El Corte and Covunco Norte-Sur), as well as exploration and development rights on two blocks (La Mona and Antares) in Colombia. It does not yet have any production or revenue. Azabache was trading at over $1 a share in early 2012 when the government of Argentina nationalized the Argentine oil unit of Spanish energy giant Repsol. The shares of Azabache, as well as most other junior exploration companies operating in Argentina, have plunged since then. In May 2013, the company raised $1.6 million in an issue of 10.3 million shares at $0.16 each. It…