Sarasota, FL, June 21, 2006 --(
PR.com)-- StockInterview.com’s Market Outlook Journal reported on a research report released by the Cohen Independent Research Group on Pacific Asia China Energy (TSX: PCE, Other OTC: PCEEF), which announced a Buy recommendation on the company’s shares and called the company’s shares, “grossly undervalued.”
Through its wholly owned subsidiary, Pacific Asia China Energy holds the first coalbed methane (CBM) concession awarded to a Canadian publicly traded company by China’s state-owned CBM company. PCE joins major oil companies such as Chevron-Texaco and Conoco-Phillips to enter the potentially lucrative Chinese CBM market. China’s reported CBM reserves are estimated at 31 trillion cubic feet.
Cohen Research set long-term price targets as high as C$11.56/share under the most optimistic scenario and a pessimistic price target of C$1.96/share for Pacific Asia China Energy shares.
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