Fox Petroleum (fka FXPT)

[Chroma-Z]

Will $117,000 Make Any Difference for Fox Petroleum Inc (PINK:FXPT)?

By Martin Tsvetkov
Date: Sep 12, 2011
FXPT_chart.pngYesterday, Fox Petroleum Inc (PINK:FXPT, FXPT message board) made a spectacular return to the promotional spotlight for the first time in five months. As much as $117 thousand were put on the table to pump FXPT shares in the first session of the new week. Not bad for a company that has failed to maintain a working website.

In addition thereto, the company just went up with an official press release as well.
According to the latter, FXPT had entered into an agreement for the acquisition of two Louisiana-based oil assets, each held by a separate limited liability entity. While no transaction details whatsoever have been announced so far, it has been disclosed that one of the leases has produced in excess of 6 million barrels of both oil and gas for the last eight decades.

A brisk look at the chart reveals that the new paid advertising campaign comes hard on the heels of two consecutive positive market sessions for FXPT stock. In fact, FXPT shares managed to score a combined 36% increase in value over Thursday and Friday. Both sessions failed to trigger exceptionally high volume.

Once a diligent financial information provider, FXPT no longer files with the SEC. Moreover, ever since the company last filed a full-on 10-Q report in August 2010, it has provided no current financials whatsoever. Yet, as of May 31, 2010, FXPT had:

zero assets;

a working capital deficit in excess of $23.7 million;

zero revenue.

Considering how negligent FXPT has been in maintaining a sound financial discipline for the last twelve months, market players could hardly expect any positive developments in the company's financial situation. Because, if any improvement had taken place, FXPT would have seized the opportunity to boast about it immediately.