Mesa Energy Holdings Inc. hit a fresh 52-week today when it traded at $3.50 a share. The stock was first mentioned in QualityStocks Free Daily Newsletter just recently – on March 9, 2010. At that time, Mesa was trading at only $2.03 a share. So in just two short weeks investors have made more than 70 percent on the stock!
Mesa Energy Holdings is an exploration stage oil and gas exploration and production company. The company’s focus is on the Marcellus Shale in western New York. The company today provided the results of an independent engineering review of Mesa’s Java Field, located in Wyoming County, New York. The company has the mineral rights to about 3,200 acres in the Java Field. The review showed that Mesa would have between 106 and 425 billion cubic feet of natural gas. Potential recoverable gas reserves using a 25% recovery factor would put the company at about 106 billion cubic feet of gas.
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