SOURCE: Paragon Financial Limited

Paragon Financial Limited

January 18, 2012 08:20 ET

Dejour Energy and GMX Resources Benefit From North American Exposure

The Paragon Report Provides Equity Research on Dejour Energy & GMX Resources

NEW YORK, NY--(Marketwire - Jan 18, 2012) - After a sluggish start to the New Year, oil prices are starting to increase. Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London, told Bloomberg that oil could continue to surge, as "supply worries in Iran and Nigeria combined with the recovering U.S. economy and demand from developing markets" drive prices. The Paragon Report examines investing opportunities in the Oil and Gas Sector and provides equity research on Dejour Energy, Inc. (NYSE Amex: DEJ) (TSX: DEJ) and GMX Resources, Inc. (NYSE: GMXR). Access to the full company reports can be found at:

Earlier this week the Organization of Petroleum Exporting Countries (OPEC) kept its forecast for 2012 oil demand unchanged, while warning that Europe's could reduce international demand. OPEC warns that if Europe's turmoil "were to worsen, the effect on the oil market could be seen not only through a further decline in oil demand in Europe, but also with spillover effects on oil demand in the emerging economies."

OPEC maintained its prediction for production outside the organization in 2012 at 53.1 million barrels a day, Bloomberg reports. This represents an annual increase of about 700,000 barrels a day, driven by growth in the United States and Canada.

The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Oil and Gas Sector register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

The US Energy Information Administration (EIA) says that it anticipates the price of West Texas Intermediate (WTI) crude oil to average about $100 per barrel in 2012, $5 per barrel higher than the average price last year. For 2013, the EIA expects WTI prices to continue to rise, reaching $106 per barrel in the fourth quarter of next year.

In the natural gas space, the EIA notes that working inventories continue to set new record highs and ended December 2011 at an estimated 3.5 trillion cubic feet (Tcf), about 12 percent above the same time last year.

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