SOURCE: The Bedford Report

The Bedford Report

April 15, 2011 08:16 ET

North American Presence Beneficial to Lucas Energy & Kodiak Oil

The Bedford Report Provides Analyst Research on Lucas Energy and Kodiak Oil & Gas

NEW YORK, NY--(Marketwire - Apr 15, 2011) - Small and mid-cap energy stocks have surged over the last month as investors have been focussed on energy companies that do not have exposure to Libya and other troubled spots, but stand to benefit from higher oil prices. The Bedford Report examines the outlook for companies in the Oil & Gas Sector and provides research reports on Lucas Energy, Inc. (NYSE Amex: LEI) and Kodiak Oil & Gas Corporation (NYSE Amex: KOG). Access to the full company reports can be found at:

The American Petroleum Institute said gasoline supplies dropped by 4.6 million barrels last week - more than three times what analysts had expected. A decline in gasoline supplies may boost demand for crude oil, which is refined to make gasoline. Oil prices had been on the downswing for most of the week as investors tried to gauge how the high cost of oil was affecting the economy and whether businesses and consumers will start cutting their fuel usage.

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With oil demand showing minimal signs of dropping, and dependence on foreign oil on the downswing, North American energy companies are getting increased attention from investors.

Last month Kodiak Oil & Gas said that fourth quarter sales increased 131% from last year, although the company still reported a net loss of $4.4 million, or 3 cents per share.

Lucas Energy recently announced the completion of a Hilcorp Energy-operated Eagle Ford horizontal well. The well is expected to be put on production in a few weeks and Lucas expects it to meet or exceed expectations of 500 barrels of oil per day.

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