Message #3 From:
NewsBot Date: March 30, 2007 09:30:00 AM
SKPI News Dutton Associates Announces Investment Opinion: Sky Petroleum Rated Speculative Buy in Updated Initial Report by Dutton Associates
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Dutton Associates updates its coverage of Sky Petroleum Inc. (OTCBB:SKPI), revising its rating from Strong Speculative Buy to Speculative Buy and setting a 12-month price target of $1.25. The 24-page report by Dutton Associates senior analyst Richard R. Wolfe, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, and Knobias and other leading financial portals. Sky Petroleum, an independent exploration and production company established in 2004 to pursue international opportunities, has, uniquely among U.S.-listed independent E&P companies, succeeded in obtaining access to an attractive combination of drilling opportunities in the Middle East. The Company is participating in a potential six-well development-drilling program in the Arabian Gulf, which should yield positive cash flow and profitability before the end of 2007. Subsequently, Sky has access to an exploratory opportunity, also in Gulf waters (offshore United Arab Emirates) that potentially may share the characteristics of a nearby major oilfield of key Gulf producer Abu Dhabi.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 27 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of 110 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The current cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $69,950 from the Company for 8 Research Reports with coverage commencing on 11/17/05. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
