12 Best Energy Stocks to Buy Now
OptionsZone Experts, June 3, 2009
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Energy Play #11: McMoRan Exploration Co. (MMR)
By Nick Atkeson and Andrew Houghton
If oil prices continue to move up, the small-cap oil plays should appreciate the most. McMoRan Exploration Co. (MMR) may see extraordinary appreciation. The CEO believes there is a huge reserve of oil in the Gulf of Mexico under where much of the shallow wells were drilled. The CEO is one of the world's great geologists, and has a multi-decade track record of finding significant natural resource reserves in places others never thought to look.
The CEO is so excited about the opportunity that he personally purchased 500,000 shares at about this level in March, 2009. If his find is real, some analysts see MMR rising from $6 to about $100.
Like the sound of that kind of return? Then check out 7 Penny Stocks That Could Change Your Life.
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