Northern Oil announced quarterly earnings of $.04 per share on 3/2/09. This oil and gas exploration company has completed 5 successful discoveries in the Bakken formation (4) and in the Red River Structure. It driling exloratory and developmental wells primarily are in the Rocky Mountain region of the US.
While their long-term success is dependent upon seeing crude oil move back up $70 per barrel, I would expect to see a move back to $5 per share if we see crude oil move back above $55 per barrel over the next couple of months.
$2.55 (03/05/09)
