Is Now The Time To Buy These 5 Overseas Energy Companies?

Exciting Latin America 

 

The shareholders of Harvest Natural Resources (NYSE: HNR) lived on a roller coaster last week. Harvest couldn't sell its Venezuelan oil assets to Indonesia's state-owned PT Pertamina for $725 million, and the stock plunged.

However, Chavez's death sugarcoated the failed sale. Now, as nationalization fears abates, some glimmers of hope rise for the foreign entities that hold Venezuelan assets. 

 

Harvest has operations in Venezuela, Gabon, Indonesia and Oman. The company's long term debt is $80, million and its Enterprise Value (EV) is $310 million. It produces approximately 12,800 bopd and has 103.8 MMboe 2P Reserves, making Harvest look very cheap at $24,200/bopd and $3/boe of 2P reserves.

 

Good news also came from Gabon, and some good drilling results in 2013 from the high-potential exploration prospects in Indonesia and Oman will definitely propel the stock higher.(more)

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