Treaty Energy Corp. (fka TECO)

[PenSec]

Lot of debt and no revenue. Hope they can prove otherwise sooner than later (preferably not today...hate to have good news stifled by a long weekend). GLTA Longs

Treaty Energy Jumps on New Oil Leases

"Treaty Energy Corporation (TECO, Free Analysis), an oil and gas company focused on growth, jumped more than 40% during today’s session after acquiring two additional leases in Texas. The production on these leases is estimated at approximately 4.18 barrels per day, while an additional 30 virgin well drilling sites will be added to the list of wells that its new drilling rig will start when permitted.

Despite the strong future potential, investors should be aware that the oil and gas company reported revenues of just $1,570 and a net loss of more than $1 million in fiscal 2010. Meanwhile, the firm reported total assets of $254,331 compared to current liabilities of more than $1.48 million, suggesting that the firm may need to raise additional capital in the near future."

http://sumfolio.com/top-3-small-stocks-with-big-moves-1110/