XCHC is explosive this morning with corporate update!
Watch this exciting oil company XCHC… it could be new hunch play this morning. X-Change Corporation could be seeing breakout today so please read its new release yesterday!
XCHC is my special alert for Tuesday morning.
X-Change Corporation is an undiscovered gem and it could be a multiple bagger this coming week with a string of back to back strong days to keep the momentum going strong. This oversold, unknown, pure oil play with its foothold in Texas is set to make shareholders a fortune.
XCHC is an independent oil exploration and production company based in Houston, Texas. The company recaps recent developments as it moves forward with financing options to begin drilling on several properties.
The company has a commitment of $10 Million in immediate funding! Through its subsidiary Cress Oil, XCHC has also entered into a purchase and sale agreement with a private company to acquire more than 44,000 net mineral acres in the Bakken and Three Forks formation in the US portion of the Williston Basin of Montana for a total purchase price is $30.8 Million.
The latest news earlier today might flex big muscle of this new oil play starting tomorrow when the Street is absorbing it. Do not miss XCHC in action in the morning!
Here are some its recent developments that can leapfrog this company to the next level:
On March 26, 2012, XCHC announced the addition of two new Board of Director members, Robert Nourse and Graciela Moreno. Mr. Nourse was appointed President and Ms. Moreno was appointed Senior Vice President of X-Change Corporation. Their combined years of executive expertise and experience will build long term revenues and shareholder growth.
Robert Nourse, President of XCHC, has more than 14 years of progressively responsible experience raising private capital for the exploration and drilling of oil wells in excess of $100 million. Robert has led these companies in the start-up and growth phase by providing clients with superior leadership during critical transition phases. Robert Nourse has commitments of $10 Million of immediate funding to X-Change Corporation.
On April 4, 2012, XCHC announced the appointment of Atul Trivedi as the Chairman and CEO. Mr. Trivedi's years of executive expertise and experience will build long term revenues and shareholder growth. Mr. Trivedi was currently promoted to President and CEO of Cress Oil, Inc., a subsidiary of X-Change Corporation.
On April 9, 2012, XCHC announced through its subsidiary Cress Oil, Inc., an independent exploration and production company based in Houston, Texas that it has entered into a purchase and sale agreement with a private company to acquire more than 44,000 net mineral acres in the Bakken and Three Forks formation in the US portion of the Williston Basin of Montana. The total purchase price is $30,800,000.00. The leases can be taken in separate blocks of 1,000 or more acres at the discretion of Cress Oil until the entire block of 44,000 acres is taken down.
On April 13, 2012, XCHC announced through its subsidiary Cress Oil, Inc., an independent exploration and production company based in Houston, Texas that it has acquired a 65,000 gross acre (50,000 net acre ) lease position in the Alberta Bakken Shale formation in Montana.
U.S. Geological Survey reports have found that the Bakken Shale is one of the largest and richest continuous oil accumulations in the United States. Because the Bakken shale has moved up into Canada, specifically Alberta, Canada, Cress Oil intends to explore and develop deep into the southern Alberta basin of Montana as well. There is an estimated of 6-24 billion barrels of oil to be recovered in the Bakken formation.
On April 16, 2012, XCHC announced through its subsidiary, Cress Oil, Inc. a joint venture with Nomad Energy, Inc. to provide drilling, and well services in the newly acquired 109,000 mineral acreage position in the Bakken Shale and Three Forks formation. Cress Oil expects to lay out more than $200 million in capital expenditures to explore and produce on the newly acquired mineral acreage throughout the next five years.
Nomad Energy provides services worldwide to more than four hundred different service and operating companies. Services range from drilling and completion technologies to performing dynamic and static reservoir studies all the way through integrated project management. Nomad can provide field production strategies, operations, integrated project management and deliver discreet well site services.
On April 20, 2012, XCHC announced through its subsidiary Cress Oil, Inc., an independent exploration and production company based in Houston, Texas, that it will acquire leasehold interests located within the Williston Basin of North Dakotas and Montana.
Cress Oil will buy current net production and capitalize on existing assets from owner. Expectations for recoverable oil within the leasehold have resource targets of more than 900 million barrels of oil equivalent. The company plans to drill 10-20 additional wells.
With an estimated 24 billion barrels of oil within the Williston Basin, the Bakken has been the nation's largest oil discovery in more than 40 years. When the Bakken Formation was first assessed for recoverable reserves, it turned out to be only a fraction of what the industry have actually discovered today. There continues to be acreage of recoverable oil throughout eastern Montana within the Bakken and Williston Basin.
XCHC is utilizing new drilling technologies in all our current lease properties and will continue using the improved techniques on all its acquisitions!
XCHC is in the right place at the right time when the oil pricing is rising again!
I expect XCHC to start a new rally in the morning after the news …. This is a low float play, so any upward movement as a result from yesterday PR can lead to a new profitable breakout. Watch it move!
And happy trading!
For additional information, go to the website: www.cressoil.com
Investors will wake up before long. They always do. And then the run up in oil prices will turn into a headlong race to cash in.
Trust your reasoning and take some action to reward yourself!