Update on Norex Exploration Services (NRX.V)


I received an e-mail yesterday from a fellow investor about Norex Exploration (NRX.V), a stock that I hold and wrote about in one of my earlier posts on stock investing. From a macro perspective, I like the future of oil and gas exploration services in Canada as an investment. Norex is the leader in its field in Western Canada and has been acquiring smaller competitor companies for the past several years.

Norex Exploration Services (NRX.V) just released their fourth quarter guidance on July 5, 2006 and it was extremely positive for shareholders.

Here are some of the details:

As a result of its acquisition of Conquest Seismic Services Ltd. effective February 1, 2006 and strong industry activity levels the Company expects that revenues for its fourth quarter ended April 30, 2006 will range from $46 million to $48 million. EBITDA for the fourth quarter is expected to range from $9.3 million ($0.26 per common share) to $9.8 million ($0.28 per common share).

It should be noted that these are not from audited financial statements and the audited version will be available very soon.

The weekly chart shows that there has been consolidation in recent weeks, and it has hovered around major moving averages. It also appears to be continuing the uptrend that dates back to February of 2005.

If you have any comments on this stock or any other investment, please feel free to e-mail me or post a comment. I would love to hear from you!

Have a profitable day!

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