SOURCE: Paragon Financial Limited

Paragon Financial Limited

August 17, 2012 08:20 ET

Oil Prices Rally to the Highest Level in Three Months -- EIA Raises Forecasts for 2012 Oil Prices

The Paragon Report Provides Stock Research on Halcon Resources and Ivanhoe Energy

NEW YORK, NY--(Marketwire - Aug 17, 2012) - Oil and gas stocks have stagnated in 2012 as the recent economic slowdown in Europe and China has created a less than favorable demand outlook for crude. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) year-to-date has gained just over 1 percent. The Paragon Report examines investing opportunities in the Oil & Gas Industry and provides equity research on Halcon Resources Corp. (NYSE: HK) and Ivanhoe Energy Inc. (NASDAQ: IVAN)(TSX: IE).

Access to the full company reports can be found at:

www.ParagonReport.com/HK

www.ParagonReport.com/IVAN

Despite weak global demand oil prices have gained nearly a third during the last six weeks. At the beginning of the week Brent crude prices hit $115 per barrel, the highest it's been in the last three months. Since the end of June Brent crude prices have rebounded roughly 30 percent. The EIA earlier this month raised it forecasts for 2012 oil prices. West Texas Intermediate crude is now projected to average $93.90, up from the previous estimate of $92.83, while Brent crude was increased to $108.07 a barrel from $106.

"The market is decoupling from fundamentals," said Carsten Fritsch, an analyst at Germany's Commerzbank in Frankfurt. "Much of the strength is based on factors -- such as more U.S. economic stimulus -- that are far from guaranteed."

Paragon Report releases regular market updates on the Oil & Gas Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.

Halcón Resources Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. During the second quarter of 2012 the company produced an average of 3,912 barrels of oil equivalent per day during the quarter, 73% of which was oil and natural gas liquids.

Ivanhoe Energy uses technologically innovative methods to significantly improve the development of heavy oil and other oil and gas assets. Primary among these is Ivanhoe's proprietary, patented heavy oil upgrading process called "HTL," or "Heavy-to-Light."

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