Investment Research: Geokinetics Inc. AMEX:GOK

I generally dislike the American Stock Exchange. I don't like stocks that are traded on the American Stock Exchange. I don't like the 15 minute delay it takes to see stock prices during day trading.

 

However, I happened to come across this stock the other day - one that is way oversold. It is called Geokinetics, Inc. American stock exchange symbol is GOK.

 

Geokinetics Inc. (Geokinetics) is engaged in providing seismic data acquisition, multi-client data library and seismic data processing and interpretation services to the oil and natural gas industry.

 

This was a stock that dropped heavily after the Moody's downgrade of the US' creditworthiness. However, this company is not down and out. Supply n demand has it looking like in the short term - this stock may be worth a looksee. Check the volume October 3rd-5th and resultant price spike.

 

Of course, Geokinetics is facing a lawsuit in US Court, see the full article here;

 

Fremantle-based Mermaid Marine is one of three companies accused of actions ''tantamount to murder at sea'' in a US lawsuit filed by the family of one of four oil workers who died last month during a violent storm in the Gulf of Mexico.

Two of the six men who survived the catastrophe have also filed lawsuits alleging ASX-listed Mermaid Marine Australia and US companies Geokinetics Inc and Trinity Liftboat Services were grossly negligent.

They claim the crew of Mermaid Vigilance, one of Mermaid Marine's fleet which was contracted to provide services to Houston-based Geokinetics, turned for shore instead of helping the oil workers as they abandoned the disabled Trinity II mobile platform on September 8.

They contend the Mermaid Vigilance's action in deserting the workers was both cowardly and intentional, and they allege Geokinetics was the ''ringleader''.