Forest Oil Corporation (FST) reported its third-quarter 2009 earnings of 48 cents per share, compared with the Zacks Consensus Estimate of 53 cents and a year-ago profit of $1.26. Before adjusting one-time items, earnings were $1.53 per share. The results came in below expectations mainly due to lower sales volumes.

Sales volumes for the quarter came in at 476 MMcfe/d (77% natural gas), down 9% from 520 MMcfe/d in the corresponding 2008 period. The decrease in production was due to deferred and divested volumes.

During the quarter, production expenses decreased approximately 24% year-over-year to $1.17 per Mcfe, mainly on the back of a fall in production. Unit general and administrative expenses for the quarter was essentially flat year-over-year to 28 cents per Mcfe, while depreciation and depletion expenses for the quarter decreased 48% year-over-year to $1.49 per Mcfe due mainly to a non-cash ceiling test write-down of oil and gas

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Dr Stock Pick HOT News & Alerts!

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FREE Daily Stock Alerts From DrStockPick.com

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DrStockPick.com Watch List!

My Picks for Thursday October 29, 2009, are:

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AKAM, Akamai Technologies Inc.

AKAM provides market-leading managed services for powering video, dynamic transactions, and enterprise applications online.

AKAM’s Revenue for the third quarter 2009 was $206.5 million, a 5 percent increase over third quarter 2008 revenue of $197.3 million, and a 1 percent increase from second quarter 2009 revenue of $204.6 million.

More about AKAM at www.akamai.com

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CPE, Callon Petroleum Co.

CPE is engaged in the acquisition, development, exploration and operation of oil and gas properties primarily in the Gulf Coast region. CPE’s properties and operations are geographically concentrated in Louisiana,

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Dr Stock Pick HOT News & Alerts!

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Friday October 16, 2009

DrStockPick.com Stock Report!

NOK, PWRM, MRK, CSRH, TXN, CVAT, HAL, AQNM

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NOK, Nokia Corp.

NOK is a pioneer in mobile telecommunications and the world’s leading maker of mobile devices.

NOK and Accenture announced the completion of Accenture’s acquisition of Nokia’s Symbian Professional Services, which was initially announced on July 17, 2009. With this transfer, Accenture assumes full ownership of Nokia’s Symbian Professional Services unit responsible for Symbian OS customer engineering and customer support.

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PWRM, Power 3 Medical Products Inc, PWRM.OB

Power3 Medical Products, Inc. is a leading bio-medical company engaged in the commercialization of neurodegenerative disease and cancer biomarkers, pathways,

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Yesterday, privately-owned Chaparral Energy, Inc. and publicly held United Refining Energy Corp. jointly announced that they have entered into a merger agreement. The combined company will be named Chaparral Energy, Inc. and will remain trading on the NYSE Amex until approval of a planned application to transfer listing to the NYSE. Once transferred, the company will use “CPR” as its symbol. The proposed transaction is valued at approximately $1.8 billion, and is expected to close by December 11, 2009.

Chaparral’s senior management team, including Chairman and CEO Mark A. Fischer; Joseph O. Evans, CFO; and Robert W. Kelly II, Senior Vice President and General Counsel, will continue to lead the company through this merger. John A. Catsimatidis, URX’s current CEO and Chairman, will act as the Executive Chairman of the Board of Directors of the combined company.

Founded in 1988, Chaparral has developed a substantial asset base of long-lived oil and gas

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Velocity Energy Inc. announced the purchase of producing natural gas wells and partially developed acreage in the Appalachian region in the Northeastern United States. Velocity Energy Inc. purchased the assets from a private company and did not disclose the purchase price.

Velocity Energy Inc. said that the sale included 13,500 net acres of oil and gas properties, which are currently producing 2 million cubic feet per day of natural gas from several shale formations. These formations include the Ravencliff, Maxton, Big Lime, Berea, Gordon and the Cleveland and Huron Shales. The company said that the purchase would give it 60 future locations on which to drill for future reserves.

Don Vandenberg, the President of Velocity Energy Inc. said, “We have been pursuing this acquisition and other Appalachian acquisitions as we believe that the long history of successful exploitation of Devonian Shale and other shale horizons found throughout the

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Yesterday, oil and natural gas firm Comstock Resources Inc. (CRK) provided an operational update about its recently completed third quarter.  Average production was up 9% sequentially to about 184 million cubic feet equivalent per day (MMcfe/d), reflecting the success of Comstock’s enhanced onshore drilling programs. The company drilled a total of 9 wells during the quarter, with a 100% success rate.  This year, Comstock’s drilling programs are focused on developing its Haynesville shale properties in East Texas and North Louisiana . As part of that effort, the company drilled 7 successful wells in DeSoto Parish , North Louisiana during the third quarter (3 wells are in Toledo Bend North field, 3 in the Logansport field and one is in the Mansfield field), which had an average per well initial production rate of approximately 15.6 MMcfe/d. These results were up 23% from the 7 wells that were reported ...

AMG Oil Ltd., through its wholly-owned subsidiary Adira Energy Corp., explores for oil and gas in Israel within areas located on-shore in the Hula Valley and also 10 kilometers offshore between Netanya and Ashdod. The company currently holds two oil exploration licenses, the Eitan license and the Gabriella license, which together cover an aggregate total of about 129,000 acres.

The company has announced that it has entered into a letter of intent with Brownstone Ventures, a Canadian-based energy investment company that holds interests in numerous international oil and gas properties. Pursuant to this agreement, Brownstone will have the right to earn a 15% participating interest in any existing or future oil & gas blocks acquired by AMG Oil in offshore Israel for a three year period commencing July 15, 2009.

In exchange, Brownstone will contribute 15% of all costs associated with such projects, in addition to its expertise and industry experience. The

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Savoy Energy Corp. is a domestic, independent oil and gas company building a portfolio of oil and gas properties. Savoy Energy currently holds leases on and has oil production from four wells. Eighteen other wells (2 producing, 16 abandoned) have already been identified by the company’s meticulous evaluation process as favorable targets for recompletion or work-over activities. The company expects to acquire these properties within the next 12 months.

Nearly two out of every three barrels of oil discovered in the United States remain trapped underground after conventional recovery operations. As per the US Department of Energy, this amount of oil comes to a staggering 200 billion barrels. Savoy Energy is focusing its efforts on this huge base of trapped oil.

A new research report has been issued on Savoy Energy by Grass Roots Research, Wall Street’s number one small cap research

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Helen of Troy Limited (HELE) continues to see higher Zacks Consensus Estimates for earnings. Forecasts are at $1.97 per share for the year ending February 2010, which is above last month's $1.90.

For the following year, the Zacks Consensus Estimate of $2.16 climbed last month's $1.91.

The second-quarter Zacks Consensus Estimate is at 39 cents, a penny above last month's projection.

Improved Fundamentals

The company's valuation, a forward P/E of 10.83, has become even more attractive than it was in mid-July, when Helen of Troy Limited was featured as a Value pick.

Read our July 15 commentary on HELE.

Last Week's Growth and Income Zacks Rank Buy Stocks

Dresser-Rand Group Inc. (DRC) recently posted second-quarter earnings of 74 cents per share, outpacing the year-prior 55 cents and exceeding the Zacks Consensus Estimate by 28%. Read the full commentary on DRC.

Newell Rubbermaid Inc. (NWL) recently declared a quarterly dividend of 5 cents

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HEAR ATLAST HOLDINGS (HRAL.PK) HearAtLast Holdings, Inc. is a Nevada corporation that owns and operates its wholly-owned subsidiary of hearing stores co-located within select Wal-Mart stores throughout Canada. Their chain of hearing stores specializes in the sale of digital hearing aids and testing services. The Company is the affordable hearing solution for Canadians, combining the most sought after retail space in North America with convenience and location.

Recent News: HearAtLast Holdings, Inc., a leading provider of suitable affordable solutions to clients with hearing needs in the billion dollar hearing loss market, announced today financial results for the Fiscal Year ended March 31, 2009. Total revenues for the year ended March 31, 2009 increased 77% to $2.42 million, compared to $1.36 million for the previous year. Gross margin was 57.58% for the latest year, down from 58.71% from the same period in 2008.

Cobra Oil & Gas Company (CGCA.OB) Cobra Oil & Gas

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