Petron Energy II Inc (fka PEII)

[JackStraw]

PEII rocketed out of the gate this morning and traded 175% above the open on record volume.

This one is an undiscovered gem and we did not anticipate the type of movement that this one showed already. It looks as though we saw some market makers covering their short position when it took off out of the gate.

Level 2 is thin and the float is tiny so trade carefully.

Remember, this is a news play which is still developing.

PEII is a perfect storm of a tiny float, low pps, potential market makers that are short and an anticipated news announcement. It doesn't get more exciting than this!

Recently, we preformed completion operations on our Covenant #5 and LaNina #2 wells, operations involved acid stimulation treatments on both wells. After swab test were ran on each well the test returns yielded oil. These results are very positive and allow us to move to the next stage of completion which is scheduled for Friday. We have scheduled sand fracture stimulation treatments on each well for Friday. We expect to report production results in the next 10 days.

This is from their last release: http://finance.yahoo.com/news/petron-energy-ii-inc-announces-140000964.html

We are waiting for this announcement and are hoping that it could be a real blockbuster.

Base on what the CEO said, News could be any day and we could see PEII at much higher levels.

Watch for updates and a potential sub-penny play after the close tomorrow.

I got this alert this afternoon!!!!!!!!