ORLANDO, Fla., Nov. 27, 2006 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, announced that they have initiated research on Knight Energy Corp. (Pink Sheets:KNEC).
Clay Mahaffey, CFA, RedChip Research Analyst, wrote in the report:
"Knight Energy Corp. (Pink Sheets:KNEC) is an emerging mid-continent domestic oil and gas company formed over the last six months by Nortia Capital Partners, Inc. With prospective acreage in North Texas and Oklahoma, Knight Energy Corp. owns drilling rigs to avoid delays other companies have experienced. The Company has been successful in implementing aggressive fundraising to meet its drilling plans. We have set a price target of $4.50 based on a peer group P/E and Enterprise Value/EBITDA multiples with a modest (fifteen percent) premium based on growth prospects, applied to the 2008 projected EPS and EBITDA/share of $0.33 and $0.52."
To receive a complimentary copy of the RedChip Visibility initial research for KNEC, please visit: http://www.redchip.com/visibility/about.asp?page=requestKNEC.
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RedChip Visibility Research Disclosure
The analysts contributing to this report do not hold any shares of KNEC. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that Red Chip visibility, a division of RedChip Companies, has been hired by the Company to distribute its press releases, and write research on the company. RedChip Visibility has received a cash fee of $22,000 for their services.