The TSX had a great week overall, although not so sure that will continue on into this week.  We’re going to be looking at weaker gold prices, as more investors continue to pick up the US dollar in response to their increasing the discount rate.  That doesn’t mean that penny stock companies will necessarily be along for the rough ride though.  Oil prices are hovering around $79 and if they break above that $80 level there’s always psychological support levels around the even numbers that will likely keep prices elevated above that $80 mark.  So with that here’s a junior energy company that was up 46% on Friday.  Watch for this to pull back due to profit taking, but you see this as an improve entry point.

NRS.V – $0.095

Norwood Resources Ltd. is an oil and gas exploration company engaged in the business of acquiring and exploring oil and gas projects, and has interests in properties in Nicaragua and Texas. As of December 31, 2008, the Company had not earned revenues from its oil and gas properties and is considered to be in the exploration stage. Its projects include Nicaragua Project and Bigfoot Prospect. The Oklanicsa Concession consists of 3260 square kilometres (805,268 acres), onshore on the Pacific coast of Nicaragua in Central America. The block extends southwest of Managua from the Pacific shoreline to the Costa Rican border. The block lies on the eastern flank of the Sandino Basin. In March 2008, the Company completed a shallow well to a depth of 650 feet on location at Maderas Negras. The Bigfoot prospect is located over a giant rift margin basement fault block at depth.

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