Infinity Targets 3 Billion Barrels in Nicaragua
March 24, 2010
Infinity Energy Resources Inc. (IFNY, Free Analysis), an independent oil exploration company focused in Nicaragua, has seen its shares rise nearly 1,000% off of its 2009 lows after announcing that an independent analysis of seismic data suggested that its offshore Nicaraguan concessions could potentially contain over three billion barrels of oil.
In a recent conference call, the energy company noted that its proposed sale of its Texas property has seen as much as half a dozen interested parties and several large, international players are interested in a potential Nicaraguan partnership. Meanwhile, the company announced that it could be sitting down with several parties as early as the next few weeks.
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