Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
When I last wrote about Sound Oil (SOU), I suggested the “valuation looked stretched”. People lined up to disagree with me, not least Brokerman Dan. The problem with the rebuttals is they just sounded like the same tired old lines trotted out about countless resource stocks on AIM, all promising heavenly riches. And we know what happened to the overwhelming majority of them. Despite my cynicism, I was approached by a friend of Sound Oil’s asking if I’d talk to CEO James Parsons to hear his version of the story. Earlier in the week I caught up with Mr Parsons and there could be more to this company than I initially thought.
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