WRES - Sector: Basic Materials---Industry: Oil & Gas Equipment & Services

[setravis]

Profile:  


Warren Resources Inc.
1114 Avenue of the Americas
34th Floor
New York, NY 10036
United States - Map
Phone: 212-697-9660
Fax: 212-697-9466
Web Site: http://www.warrenresources.com

DETAILS  
Index Membership: N/A
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Full Time Employees: 65


BUSINESS SUMMARY  
Warren Resources, Inc., an independent energy company, engages in the exploration and development of onshore oil and gas reserves in the United States. It primarily develops coalbed methane and natural gas properties located in the Rocky Mountain region; and waterflood and tertiary oil recovery programs in the Wilmington field within the Los Angeles Basin of California. As of December 31, 2008, Warren Resources owned natural gas and oil leasehold interests in approximately 175,725 gross acres; estimated net proved reserves of 129 billion cubic feet equivalent of natural gas; and interests in 435 gross producing wells. The company was founded in 1990 and is based in New York, New York.

[setravis]

Very speculative...
Watching for continuation. Could be good entry point to add on position or take new position.

•WARREN RESOURCES INC Earnings Call scheduled for Wed, May 6

52wk Range: 0.40 - 15.33
Volume: 1,554,683
Avg Vol (3m): 531,136

Technicals
Percentage Gainer

Last Price Quote is:
45.76%above 13-day MA
26.58%above 50-day MA
RS Rating: 7 

Fundamentals
Key Data:
Market Cap (M): $93.53 
P/E Ratio: 0.82 
PEG Ratio: 0.0733333 
Next Earnings: 05/06/2009
Last Analyst Rating: Sell

Below are the 6 month...9 month...and 4 year charts...

[setravis]

Warren Resources Schedules First Quarter 2009 Earnings Release and Conference Call

NEW YORK, May 4, 2009 (GLOBE NEWSWIRE) -- Warren Resources, Inc. (NasdaqGM:WRES - News), an independent oil and gas exploration and production company (``Warren''), will report first quarter 2009 financial and operating results on Wednesday, May 6, 2009 by issuing a press release before the market opens and conducting a conference call on that date at 10:00 am Eastern Time. The full text of the release will be available on the Internet at http://www.warrenresources.com.

The conference call will also be broadcast live over the Internet at 10:00 am Eastern Time on May 6, 2009, and can be accessed by registering at http://www.warrenresources.com.

If you are unable to listen to the live call, a recording of the call will be available for delayed playback for one week beginning at approximately 1:00 pm on May 6, 2009. To access the replay, dial (888) 286-8010, or if international dial (617) 801-6888, and provide the confirmation code, 65824887.

Warren Resources, Inc. is an independent energy company engaged in the exploration and development of domestic oil and natural gas reserves. Warren is primarily focused on water flood oil recovery programs in its Wilmington Units located in the Los Angeles Basin of California and the exploration and development of coalbed methane properties located in the Rocky Mountain region. The Company is headquartered in New York, New York, and its exploration and development subsidiary, Warren E&P, Inc., has offices in Long Beach, California and Casper, Wyoming.

Contact:
          Warren Resources, Inc.
          Media Contact:
          David Fleming
          (212) 697-9660

[setravis]

Great momentum lately...Warren Resources Value Attractive.
I think we move higher until we receive news about the asset sale. Buy the rumor, sell the news.



Despite clear near-term challenges, we continue to believe that the stock offers a compelling long-term value given its favorable set of growth opportunities via its natural gas-focused Atlantic Rim and oil-focused Wilmington assets.

is an independent energy company engaged in two major developments: the Atlantic Rim CBM play in Wyoming's East Washakie Basin, and secondary oil recovery operations in the Wilmington field in the Los Angeles Basin. This oilfield represents the third largest field in the U.S., and around 90% of the company's proved reserves are located in the Wilmington field.


52wk Range: 0.40 - 15.33
Volume: 1,285,417
Avg Vol (3m): 597,588

Technicals
Percentage Gainer

Last Price Quote is:
58.09%above 13-day MA
77.36%above 50-day MA
RS Rating: 73 

Fundamentals
Earnings Expected on May 6

Key Data:
Market Cap (M): $111.18 
P/E Ratio: 0.82 
PEG Ratio: -0.22 
Next Earnings: 05/06/2009
Last Analyst Rating: Sell