Savoy Energy Corp., an independent oil and gas company specializing in the turnaround of abandoned wells, is in a rather unique position within the industry. While many oil and gas companies depend upon searching for and discovering new wells, still a largely speculative process in spite of all the technologies now being applied, Savoy goes after existing wells. These are wells that still have oil, but which were abandoned earlier because previously available technologies and processes were simply not able to economically extract the remaining stock. Using innovative approaches, Savoy is able to tap into those remaining resources, bringing the wells back online.

Savoy is currently producing oil from four wells, with another 18 being evaluated. This is expected to increase significantly over the next few years. However, the company is very careful in identifying and evaluating well candidates, a move

A couple of weeks ago I was in Fort McMurray, Alberta.  I was visiting two large oil sands operations, courtesy of Conoco Phillips (NYSE:COP), Syncrude Canada and the American Petroleum Institute, which sponsored the trip.  I’ve been all over the place, but never to a working oil sands operation.  This was a first for me, and quite an eye-opener.

What Are These Oil Sands?

Back in Pleistocene time, the glaciers covered much of northern Alberta.  In places, there was a mile of ice.  During some of the warmer periods, there was a lot of melting.  On occasion, and in some places, there were giant, glacial-dammed lakes.

Every now and again, these glacial dams would break, sending massive volumes of water downstream, wiping away pretty much everything along the way.  Well, it turns out that in this scoured-out area that included much of the rock covering some lower Cretaceous deposits of

Last year, oil prices went crazy. In a matter of weeks, oil shot up as high as $147 and came right back down. Today, oil is sneaking back up. The obvious temptation is to try and time it again. The smart money, however, is looking elsewhere to take advantage. We found the perfect penny play to do just that…

Spreading Your Bet Without Losing Any Profits

Instead of outright betting on oil’s price, let’s use the spread between oil and gas. After all, some of the largest companies in the world do this. All the large oil companies (ExxonMobil -NYSE:XOM-, BP, Shell -NYSE:RDS.A-, etc.) do it by owning refineries.

Now, to be fair, most of their profits don’t come from the refinery process. But big money is still out there for the taking. Just take a look at industry leader Valero (NYSE:VLO). Last year, while it may not have

As the market price of crude oil falls, it reaches a point where the cost of new exploration projects exceeds the potential rewards. And that point is dangerous for small cap GETECH (LON:GTC), which provides specialist geographical data to the oil industry. Tom Bulford says the company may be undervalued, given its strong assets and customer base. But uncertainty over oil prices remains a key risk to operations.

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News that Shell is to halt development of its vast Canadian tar sands project is a sign of changing times in the oil industry – and one that will not be well received at the AIM-listed provider of data to the oil industry, GETECH (LON:GTC). This is a pity because last week’s annual results statement revealed a share that looked extremely cheap and prompted an 80% rise in its price from 16p to 30p.