Xun Energy, Inc. (fka XNRG)

[Carsmax177]

IMO, they still have

1. Rice Well #15 temporarily shut in until oil prices recover

2. Partnerships with commodity companies, such as Idria-Xun Enterprises Limited in Hong Kong, with Idria Energy

3. Section 3(a)10 exemption that has at least 4 other Rice wells that will be drilled once the shares that are issued to Equity Capital Ventures, Inc. are sold.

4. Last update on the project, the Falls Project was on hold until oil prices stabilized.

To me its not failed as they still have prospects in oil and gas, however given the price of oil its not feasible to produce right now, thus XNRG went to commodities. I remember reading an article that $60 was about where break even is for United States shale drilling.

Seeing how Rice well #15 was drilled in June 2014 and oil prices fell nearly 40% (from $103 to in the $60s) by December, I would think that, looking back on how the oil crash unfolded, investors would have researched oil before investing and might have seen that coming.

IMO