NEW YORK, NY -- (Marketwire) -- 05/30/12 -- The following is an investment opinion highlighting Circle Star Energy (OTCBB: CRCL), Sandridge Energy (NYSE: SD), Chesapeake (NYSE: CHK), and Range Resources (NYSE: RRC). In a CNN Money article discussing the resurgence of Kansas oil, companies are moving into the state and leasing large tracts of land, giving a major boost to local economies. Sandridge has estimated in the first quarter of this year alone, Kansas production has grown 23 percent.
Sandridge, who has the largest stake in Kansas with an estimated two million net acres, is followed by some larger players like Chesapeake (NYSE: CHK) with over one million net acres, Range Resources (NYSE: RRC) with forty five thousand net acres and junior companies like Circle Star Energy (OTCBB: CRCL) with one hundred seventy five thousand acres. Eagle Energy's CEO Steve Antry has been quoted saying, "It's probably the hottest play going in the country."
Circle Star Energy has also made recent news with their $2.4 million dollar exercise of warrants and $750,000 equity raise. Both infusions of capital will help the company pay down debt and help fund possible acquisition needs. Circle Star CEO Jeff Johnson said, "This capital will be used in a prudent manner to expand the growth potential of Circle Star in our effort to generate shareholder value." To find out more on Circle Star, visit www.circlestarenergy.com
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