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September 18, 2008 Stock Pick: Petro Resources Corporation (PRC)

Stock Price: $0.96

Petro Resources Corporation is an independent exploration and production company engaged in acquisitions of exploratory leases, acquisitions of producing properties. The company also engages in secondary enhanced oil recovery projects, exploratory drilling, and production of oil and natural gas in the United States.

PRC has grown revenue rapidly over the last four quarters from $1.97 million to $2.57 million to $3.15 million to $4.36 million during the most recent quarter for an average revenue gain quarter to quarter of 30.4% during the period. Cash flow from operating activities has been positive for PRC during three out of the last four quarters.

Oil stocks are cheap at this time after many of them have corrected significantly to the downside due to oil prices dropping below $100. PRC has stated in a PR that their production base was not impacted by Hurricane Ike.

PRC is trading slightly below its book value of $1.01. PRC's chart is attractive at its current level and confirming a possible reversal today.

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