SOURCE: Five Star Equities

Five Star Equities

June 15, 2012 08:20 ET

Triangle Petroleum and Hyperdynamics Continue to Battle Falling Oil Prices

Five Star Equities Provides Stock Research on Triangle Petroleum and Hyperdynamics

NEW YORK, NY--(Marketwire - Jun 15, 2012) - Oil stocks have struggled over the last month amongst concerns of a potential financial crisis in Europe. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has fallen over 11 percent in the past month. As Europe accounts for approximately 20 percent of the world's consumption of oil, a weak economy would weigh heavily on oil demand. Five Star Equities examines the outlook for companies in the Oil and Gas Industry and provides equity research on Triangle Petroleum Corporation (NYSE: TPLM) and Hyperdynamics Corporation (NYSE: HDY).

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Oil prices hit eight-month lows Monday after Spain's bailout plan failed to ease concerns of the euro region's debt crisis. Prices for crude oil for July delivery fell to $82.70, their lowest levels since Oct. 6. "There's skepticism about the plan" for the bailout, said John Kilduff, a partner at Again Capital LLC. "The euphoria was short-lived as attentions shifted to Italy and even France."

The Energy Department's Energy Information Administration in its weekly report showed that U.S. crude supplies dropped by 200,000 barrels. According to Platts analysts had predicted a drop of 2 million barrels for the week ended June 8.

Five Star Equities releases regular market updates on companies in 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 and get exclusive access to our numerous stock reports and industry newsletters.

Triangle Petroleum is a growth-oriented energy company with a current strategic focus on developing the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana. Triangle has acquired approximately 83,000 net acres in the Williston Basin. The company reported first quarter fiscal 2013 total production of 62,700 Boe.

Hyperdynamics is an emerging Houston-based oil and gas exploration and production company with assets in Northwest Africa. The company holds one of the largest offshore exploration acreage positions (originally 31,000 square miles) in West Africa. It is the Operator and holds 77% of one of the largest exploration and production licenses in West Africa in the Republic of Guinea covering approximately 25,000 square kilometers.

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