Busy researching the Maritime Shale this weekend

Hope all of you stateside are enjoying the long weekend. I'm off to King's Island tomorrow for the day so no thoughts of shale gas for at least one day. I'll be posting a report on the Maritime shale Monday night on the website. I do my own research before buying a stock so I thought I would share it with anyone who is interested. The Maritime shale play is a bit riskier than the Utica shale play due to it's early stages but this is also reflected in the share prices of the participants. One company I keep mentioning, Contact Exploration, is being given $0 value based on my calculations for their two promising shale gas plays. I like them the best out of the Four Horsemen of the Maritime shale.

On the Utica shale front, Altai was the star performer Thursday and Friday as it appears Lehman (a major institution in the US) started buying in on Thursday and Friday on any dips. It must be discouraging to the nearly 400,000 short shares that are all underwater at the moment and margin calls may be at hand if the move continues next week. Altai and Questerre have similar short interest even though Questerre has 5 times the number of outstanding shares. A short squeeze would propel Altai to $3.00 rather easily.

I use Scottrade for my investing and since it is a holiday in the States, I will not be able to buy or sell Monday. I'm hoping for a "no news" day (sorry to my friends north of the border).

One final item...I have found a very interesting company that looks to be tremendously undervalued based on comparable companies but I'm not quite sure I can take advantage of it. I'll have more on this next week but it is a direct shale gas play.

Again, have a great weekend all.