​​​​​​​I recommended Shoal Point Energy (SHP/SHPNF) to the free email list here in late July at .11 CDN. The almost tripled in less than 90 days, touching .30. It's now back to just under .20 but is approaching key new drilling, which is why we invested heavily in the stock. Oil is also a hated, out of favor sector, that is seeing billionaires like "the grave dancer" Sam Zell and Jerry Jones buying distressed oil/gas assets right now.

CEO Mark Jarvis led Ultra Petroleum from a lowly .35 stock in the late 1990's to $150 per share listed on the NYSE in the early 2000's! This is his next act in oil and is in the very early stages, there for both the risk and upside are high. But just like the McEwen thesis of betting on the jockey, I'm doing the same here and love the projects their drilling, starting next month.

I've been an active oil partnership investor since 2005 and was part of a boutique firm that packaged deals in Oklahoma/Kansas which were very successful. I only recently gravitated back to deploying capital in the sector due to the downtrodden valuations. Here is an update that I sent earlier today to (http://www.blackgoldletter.com/) below. For me, there is not a more intriguing and undiscovered speculation opportunity in the entire oil patch than Shoal Point Energy (SHP/SHPNF).