Texas-based Comstock Resources, Inc. (CRK) is an independent oil and gas exploration and production company engaged in the acquisition, exploration, and development of oil and gas properties. The company's operations are concentrated primarily in four regions in the U.S.: the Gulf of Mexico, East Texas/North Louisiana, Mississippi and South Texas.We are maintaining our Buy recommendation on Comstock shares, given the company's growing volumes (for the first nine months of 2008, volumes were up 36%), attractive valuation, and relatively lower risk profile. Additionally, the Bois d'Arc sale to Stone Energy has streamlined Comstock's operations and positioned it to function as a pure-play onshore natural gas producer. The Haynesville Shale play offers significant long-term reserve-add potential going forward. Comstock's drilling success in the Cotton Valley formation is another catalyst for future production growth.Read the full analyst report on CRK....

Cubic Energy, Inc. (QBC) is an independent energy company focused on the exploration, development, and production of natural gas and crude oil. As its name eludes, the company takes a multi-dimensional focus on the integration of engineering, financial management and earth sciences in its oil and gas exploration efforts. Cubic plans to pursue low-risk opportunities while building high-yield reserves.

The company received landmark news at the end of July 2008 that it had received approval to be listed on the American Stock Exchange (AMEX). Cubic’s common stock began trading under the symbol “QBC” on August 4th. The shares had previously been traded under QBIK on the OTCBB. President and CEO of Cubic, Calvin Wallen said, “This is an incredible milestone for Cubic and its shareholders. With the ability to list on AMEX, Cubic is able to reach both United States and Global investors.”

During fall 2008, Cubic announced that its

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We are reiterating our Buy rating on Comstock Resources, Inc. (CRK) shares following the Bois d'Arc divestiture. This transaction is expected to streamline Comstock's operations and position it as a pure-play onshore natural gas producer.

We continue to like the company for its growing volumes (first-half 2008 volumes were up 43%) and attractive valuation. The Haynesville Shale play offers significant long-term reserve-add potential, going forward. Comstock's drilling success in the Cotton Valley formation is another catalyst for future production growth.

Comstock has a positive production growth profile and volumes are expected to grow approximately 25% to 30% this year. The company is successfully executing its strategy, as is evident from its strong production growth and effective controls year-to-date.

The sale of Comstock's offshore operations will allow the company to streamline its operations and function as a pure-play onshore natural gas producer. The company's balance sheet is improving the company's debt-to-capitalization is

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The Haynesville Shale is considered the fourth largest natural gas field in North America, making it an obvious attraction to numerous exploration companies. One such company with the shale on its radar is Mainland Resources (OTCBB: MNLU), a junior company engaged in the acquisition and development of leases in the Haynesville Shale.

The company today announced a letter of agreement in which it will acquire 5,000 net acres in Mississippi, where it has plans to drill the first test well to evaluate the potential of the Haynesville Shale gas formation in the region. Mike Newport, president of Mainland Resources, says assessments of the Haynesville Shale point to potential.

“We have data that suggests the potential Haynesville Shale in this region could be similar in nature to the gas bearing Haynesville Shale in northwest Louisiana. Our geological team believes that this could be just as productive as the groundwork that’s

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I don't see why all the hoopla - it seems like a relatively minor purchase at $600M but the market is loving it, pushing Cabot Oil & Gas (COG) up nearly 9%.Cabot Oil & Gas Corp (COG) said on Wednesday it has agreed to pay $602.8 million for producing properties, leasehold acreage and a gathering infrastructure from a private party in East Texas. The acquired acreage lies near Cabot Oil's existing property and will enhance its development of the Pettet, Travis Peak and Cotton Valley formations, the company said. The tract includes 25,000 gross acres in the Minden area of East Texas. The company said it will finance the deal through a combination of debt and common equity. I continue to not own enough of this name...Long Cabot Oil & Gas in fund; no personal position...