April 06, 2011 14:52 ET

American Energy Report Issues Wednesday PM Update: Bank of America, Sirius XM Radio, Microsoft, UnionTown Energy

American Energy Report's Afternoon Update Features Bank of America (BAC), Sirius XM Radio (SIRI), Microsoft Corp. (MSFT) and UnionTown Energy Inc. (UTOG)

LAS VEGAS, NEVADA--(Marketwire - April 6, 2011) -

Editor's Note: There are two photos associated with this press release.

China's Appetite Pushing Up Prices for Oil and Mineral Stocks

North American resource stocks shot up in the beginning of this week as Chinese companies continued acquiring share positions, and in some cases, control, of North American and global exploration companies.

"It's smoking' out there," was one notable quote from analyst John Hughes of Desjardin Securities, as reported by the Toronto Star. Hughes was commenting on China's Minmetals Resources' $6.3-billion hostile bid for Canadian company Equinox Minerals Ltd. Shares jumped 30% on news of the all-cash offer.

In the U.S., small oil companies remain relatively undervalued and, thus, are likely to attract increasing attention from Chinese suitors.

Montana-based UnionTown Energy (UTOG) is one example. This emerging oil-and-gas junior has just acquired the Musselshell property in the Heath formation, not far from the Bakken. UnionTown closed yesterday just off its high at $1.72.

Musselshell has an estimated recoverable oil reserve of 10.4 million barrels. The U.S. government says the Heath contains the largest supply of oil outside Alaska.

UnionTown says it's close to finalizing the acquisition of another Montana property, the New Miami, which is located in the Madison shale formation and has estimated recoverable oil reserves of 2.4 billion. Recently, the company placed a down payment on third property.

In recent weeks UnionTown Energy has doubled its share value, as investors in the U.S. and elsewhere start to realize the potential of junior oil companies drilling for oil at home in the United States.

Big Bank News

Bank of America (BAC) increased its refinance mortgage rates slightly today. The rate on 30 year fixed loans rose to 4.875% with 0.875 origination points, yielding an APR of 5.056%. 15 year fixed rate refinance mortgages at the bank are quoted at 4.25% today with .875 points and an APR of 4.563%. The five-year ARMs are offered at 3.625% also with .875 and origination points, and five-year ARMs that are "interest only" are at 3.75% with .875 points currently.

Technology News

Bad news for a competitor is good news for Sirius (SIRI). The company's stock rose today as the market reacted to a subpoena served to Pandora Radio with regard to a federal investigation into the sharing of users' personal information.

Microsoft (MSFT) has a new marketing chief. Chris Capossela, a 20-year Microsoft employee, takes over as senior vice president of Microsoft's Consumer Channels and Central Marketing Group.

In his new role, Capossela will be responsible for all of Microsoft's public relations, marketing, and advertising. Mich Mathews, Microsoft's marketing chief for the last ten years, retired last week.

About American Energy Report provides its subscribers with the investment tools they need to realize double- and triple-digit gains. Our alert on UnionTown Energy gave our subscribers the opportunity to earn up to 200% in profits in just two weeks. is one of the market's most trusted small-cap research firms. We alert investors to promising small-cap companies with high upside potential. Savvy investors understand that micro-cap stocks are able to generate greater returns in a matter of days than big-board stocks can deliver in an entire year. provides the most comprehensive public information and due diligence on small-stocks in the energy sector. To learn more and to become a subscriber, please visit

- Disclosure –

AmericanEnergyReport is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. is a wholly owned entity of a financial public relations firm. Please read our report and visit our website,, for complete risks and disclosures.

To view the photos associated with this press release, please visit the links below:

Contact Information