This Top Pick selection is an oil producer whose stock is trading as a penny stock. Consequently, it is suitable only for the speculative portion of your portfolio.
New Western Energy Corp. (NWTR)
from Cotton’s Technically Speaking
New Western Energy (NWTR) is a small, but rapidly expanding Oil & Gas company founded in 2008.
The company is involved in the acquisition, exploration, development and production of oil and gas. It holds interests in various properties located in Oklahoma, Kansas, Texas and Pennsylvania. NWTR’s properties have oil located fairly close to the surface, and so drilling costs are fairly low.
On December 23, New Western announced that it is now expanding into Montana with the acquisition of majority control of the oil & gas assets of Forward Energy LLC of Montana. We like the management of the company and think that they are very capable and committed to continued expansion and creating added value for shareholders.
Even though the company is not currently profitable, we think the stock is a bargain at this price.We do not currently own any of the company’s stock, but we expect to establish a position in January of 2015. The stock is one of our favorite penny stocks and is suitable for only very speculative accounts.
Joseph Cotton, Cotton’s Technically Speaking, www.cottonstocks.net, 727-289-4436, December 29, 2014