For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.
"My favorite speculative choice for 2008 is InterOil Corp. (Toronto: IOL)," says Yola Edwards, editor of the technically oriented Yola Edward's Charts.
"The company is a junior exploration company involved in liquified natural gas. InterOil has partnered with Merrill Lynch Commodities, Inc. to develop a project in Papua New Guinea.
"InterOil's assets consist of petroleum licenses covering about 9 million acres, an oil refinery, and retail and commercial distribution facilities in Papua New Guinea. During 2006, the company announced a gas and condensate discovery, and doubled the downstream business by acquiring Shell's distribution assets in Papua New Guinea.
"The company announced a net loss of $17.9 million, or 60 cents per share (diluted), for the third quarter of 2007, compared with $7.3 million net loss or 25 cents per share (diluted) in the third quarter of 2006.
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