ORLANDO, Fla., Aug. 3, 2007 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., announced that it has issued a first quarter 2007 research update on Knight Energy Corp. (Pink Sheets:KNEC).
Commenting on the quarter, Clay Mahaffey, CFA, RedChip Research Analyst, stated, "Although inclement weather slowed production in Q1, KNEC made notable progress in other arenas. Key financial measures, such as price/sales and price/operating cash flow, have improved significantly from last year and we expect this trend to continue. In addition, KNEC filed its amended Form 10. This is a positive step and we expect KNEC to list on the AMEX in Q3."
Knight Energy Corp., established on March 2, 2006, is a holding company formed to acquire, develop, own, operate and invest in energy-related businesses, assets and investments. The Company's strategy is opportunistic lease acquisition, drilling rig ownership and operation, and aggressive capital funding for drilling programs.
To receive a complimentary copy of the RedChip Visibility research update for KNEC, please visit: http://www.redchip.com/visibility/about.asp?page=requestKNEC_Q12007&from=pressKNEC80207
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Disclosure
The analysts contributing to this report do not hold any shares of KNEC. 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.