E.On (OTC:EONGY) took a bite out of Gazprom (OTC:OGZPY) today. Germany’s largest utility company just got nearly a quarter of Gazprom’s Yuzhno Russkoye natural gas field. And all it had to do was give back some of the Russian giant’s stock. Not bad.

The benefits are obvious, but some risks are not widely appreciated. The Utilities Sector shows a disturbing trend for the 12 months ended May 2008. The Gas Utilities Industry has fared a little better than its peers during this period. The crude oil outlook is unclear. That is why opinion is divided on how gas prices may fare in future.

This small-capital stock from Fort Worth, TX has a clear location advantage. The home base is front and center of one of the most exciting natural gas fields in all of North America. The management has been sanguine in leveraging a spatial advantage fully. It has been pro-active in securing gathering and processing rights to top natural gas resources in its neighborhood.

Stock investors wary of how the markets have behaved during June 2008 will be relieved to know that this stock