Superior Oil and Gas, Inc. (SIOR) is a domestic oil producer and exploration company that's once again starting to catch fire with traders. The company is expanding production on their existing wells and aggressively adding others to their portfolio in Texas and Oklahoma.
7,000 acres of prime energy real estate!
SIOR estimates that the reserve potential of its 7,000+ acres of oil leases contains a mammoth 53 BILLION cubic feet of gas and 2.5 MILLION barrells of oil!
And at today's prices those reserves are estimated to be worth HUNDREDS of MILLIONS of DOLLARS!
And with off-shore drilling at a standstill, due to President Obama's moratorium – the value of SIOR as a "go-to" land-based supplier is inestimable – and that's exactly what's exciting traders!
Even without BP and the oil spill – SIOR's technicals could make for a compelling and timely trade!
The stock is off over 80% from its 2010 high
The stock appears to be under accumulation again...any selling is on declining volume
The MACD momentum has turned positive
Stochastics are on a strong uptrend which when combined with the strengthening MACD could spell a strong move for the stock
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