Bakken Energy Corp. (BKEN)

[DragonBear]

Yep oil out of a rock and folks bought it line and sinker.

Yeah, Shale oil is extracted from rock, and it is bought in the market. I liked this quote from the article:

He said it's costing his company $5 to produce a barrel of oil from the Bakken

Say what??? Real Bakken oil companies barely break even in the mid $30s-$40s. Which means oil has to higher than that to account for price differentials, between Clearbrook and WTI. Meanwhile rig counts continue to fall, despite the $5 claim. How old is that article?

The only problem is BKEN has no oil assets. And unless Manitoba is located in the State of Utah, Bakken Energy Corp snooping around Utah is slightly misnamed. The Chinese Masters of BKEN apparently didn't know the Bakken fields do not extend into Utah. Then again, anything works for a scam.

I continue to believe the CMs need to announce they are buying an Idaho potato farm, and are going to change the ticker to be SPUD. They bungled the Bakken story, even when it was in fashion. Now the magic "B" word doesn't quite have the same zing. They need to go for the potatoes.