SOURCE: Five Star Equities

Five Star Equities

April 23, 2012 08:20 ET

Strong Focus on Producing Oil Domestically Giving Oil & Gas Companies a Boost

Five Star Equities Provides Stock Research on Samson Oil & Gas and Abraxas Petroleum

NEW YORK, NY--(Marketwire - Apr 23, 2012) - Oil prices have risen sharply this year as global demand remains high and supplies have been disrupted in the Middle East. The strong increase in oil prices and U.S. focus on producing more Oil domestically has given stocks in the Oil & Gas Industry a boost. While big oil companies have seen marginal increases in 2012, many small and mid-sized oil companies have seen better results. Five Star Equities examines the outlook for companies in the Oil & Gas Industry and provides equity research on Samson Oil & Gas Limited (NYSE: SSN) and Abraxas Petroleum Corp. (NASDAQ: AXAS).

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The U.S. government has been under intense pressure to reduce rising gas prices. As a result the Obama administration has recently announced new procedures to speed processes for onshore drilling permits for U.S. oil and gas companies. Permitting and leasing decisions, which were previously done on paper, will now be done electronically. Negotiations on average took 298 days to approve, with the new process in place it is expected to drop to 60 days or less.

"We have heard from the industry that they believe that BLM's administrative processes are too slow and result in unnecessary delay and added costs, and to some degree, their criticism is valid," said Bureau of Land Management Director Bob Abbey. "The president has made it clear to us that he wants us to continue to produce oil and natural gas here at home."

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Samson Oil & Gas Limited, together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and gas properties in the United States. It holds interests in the North Stockyard project in Williston Basin, North Dakota; the State GC Oil and Gas field in Lea County, New Mexico; the Sabretooth Prospect in Brazoria County, Texas; the Hawk Springs project in Goshen County, Wyoming; and the Roosevelt project in Roosevelt County, Montana.

Abraxas Petroleum Corporation is a San Antonio based crude oil and natural gas exploration and production company with operations across the Rocky Mountain, Mid-Continent, Permian Basin and onshore Gulf Coast regions of the United States and in the province of Alberta, Canada.

Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:

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