Petron Energy II Inc (fka PEII)

[jdubb75]

The long and short of it is there has been a couple delays in production results, a little MM manipulation and some dilution. That's pretty much it in a nutshell. If you do a little DD, you will find they have secured financing contingent upon satisfactory production results and they are now in the process of wringing out some wells with seemingly high hopes of good results. Some were caught with a high position on the downside of the run and have been averaging down and others seem to have sold and moved on. Personally, I'm holding my high/averaged down position as this one moves pretty fast on good news. There are also some flippers, I believe. 20+% intraday moves up and down at these levels are not uncommon.