|FX Energy (FXEN) -- One more alternative to the "weather bet" stocks that have exposure to the North American natgas markets.|
This company has several concessions in an area of Poland that has proven to be very prolific in natural gas. Poland is a net importer of natty, and they are running scared over there since most of it comes from Russia and Russia is talking about building a pipeline out to the UK and is preparing to sell a lotta their gas in the LNG markets.
They are getting ready to spud their first gas well in Poland, and have farmed it out on very good terms to Warren Buffet. Well, not exactly accurate, but they have farmed it out to Mid-American Energy, a company owned by Warren.
See more info on them and Poland in general at their web site fxenergy.com , it is very well put together.
They have a long-term contract to sell gas to Polish Oil & Gas Corp (POGC) for around $2/mcf, which would be very economic for them if they can discover gas.
The stock appears poised to break out of a one-year trading range and there was significant volume late last week.