Petrobank Energy is a Canadian energy and resources company which operates in South America and Western Canada. Its main operations are focusing on four subsidiaries: PetroBakken Energy, Petrominerales, HBU and Archon Technologies. The energy reserves evaluation report quoted an increased by 19% of oil barrels on December 31th 2011 and permits to the company to engage serenely the new fiscal year.

Annual publications showed a turnover growth at 1.2 billion Canadian dollars compared with 1 billion for fiscal 2010, partially due to crude oil price (72.77 $/bbl for 2010, 88.65 $/bbl for 2011). Adjusted net income from continuing operation is 64.9 billion dollars, up from the 4 billion dollars recorded in 2010. Adjusted net income attributable to Petrobank could be compared with fiscal 2010 due to the recognition of non-cash items from Petrominerales recorded last year.

Technically, the energy company is consolidating below its resistance of CAD 17.04 after its growing phase since October 2011.  A new impetus on the support could be happen to reach the CAD 17 resistance again. Moreover, this movement might be support by the 50-days moving average.

Investors could take a buying position at the current price to benefit from a potential rebound. The objective would be CAD 17.    A stop-loss will be engaged at CAD 14.1.