Big Oil, Still Under 1 Thin Cent!
Good Morning, Trader!
Short and simple: Petrotech Oil & Gas Inc. (PTOG) was a big star for us last year and I’m afraid some of you took it off your radar too soon.
PTOG is the stock that delivered a 200% ride in September, then beckoned traders to a few 2-digit “parting gifts” in the weeks that followed.
All in, this chart has been a THREE-BAG powerhouse in the last four months. I’ve circled the last 75% lift here for those who forgot the fun:
NOW you recall when PTOG leapt all the way to the front door of a lofty 2 cents, right? One-day turnover: 20 MILLION shares!
That was the last time I had this kind of feeling about PTOG and you guys got the alert early enough to reap big rewards!
Back then, the technicals looked about as “oversold” as they did last night so the potential is here for another easy-and-simple surge.
The 50-day trend is a full 20% above us at 1 round penny. Coincidentally enough, PTOG hasn’t even touched that line in weeks, making “reversion to mean” action statistically more likely here.
FINRA says the shorts have been nibbling PTOG, accounting for 15% to 30% of overall turnover on some days. (Read more)
Sooner or later they have to buy in to cover their “positions” -- and with all the OIL that PTOG has on its plate, the clock is ticking!
PTOG earned its last big gusher with news that it’s buying two more working oil wells that should pump 290 barrels a month. (Read more)
Do the math and at $100 a barrel that crude is worth maybe $350,000 a year in revenue -- and hey, the deal should close any day now!
That might not be a gusher for Exxon, but remember, PTOG only has a market cap under $1 million -- the extra oil definitely moves the needle.
Not to mention, PTOG is “progressing ahead of schedule” on its Oklahoma wells with room to pump an extra $50,000 a month. (Read more)
And they just found the 20,000-foot rigs to finish its North Dakota wells, which management thinks can pump $40,000 a DAY. (Read more)
Add it up, PTOG plans to produce its market cap in crude every month, which is again awfully sweet for under 1 penny a share!
I’ve already told you about the PTOG secret of buying “stranded oil” for cheap and pumping a special chemical they pump down the old wells. (Read more)
There’s endless crude down there and only PTOG knows how to get the money flowing again!
How much money? Remember this guy who thinks it all adds up to $0.78 per share?
Bottom Line: Down here at under 1 penny, that target feels like a long way away, but in the here and now, it may grease the action a little.
And remember: PTOG promised us that the Texas deal should close around “year end.”
If the announcement sent the PPS rocketing almost to 2 cents, what will confirmation do to this slightly “discounted” chart?
Don’t start 2014 on the sidelines fretting about the index funds! Get PTOG back on your screen and greet the new year like the red-blooded trader you are!
Let’s make history!
- StockHideout
Disclaimer
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