Anytime you deal with oil stocks, BOPD (Barrels Of Oil Per Day) produced is the key ingredient to whether or not it's a ticker worth having on your radar. PEII is no different.
PEII started the year off with some stellar momentum (see here), skyrocketing up from 0.0023 to 0.0079 for gains of 243 percent. The move was somewhat justified since PEII had increased their CO2-EOR (Enhanced Oil Recovery) injection procedures on our Edward leases.
PEII has ramped up their production from 23 to 71 Barrels of Oil a day on their Eward Leases, but that's not what's gong to eventually send PEII back above .01
When Smith spoke of the Company's improvements, he hinted how, by the end of February, PEII's Simon Lease would be completed by the end of February, making it the first fully completed operational CO2-EOR lease in the Company's inventory.
This in and of itself is a great reason to have PEII on your radar.
You see, PEII has been a revenue booker for more than 2 years already.
The mere fact that Smith came out to inform the public that they walked away from the Bakken Shale transaction they were expecting to close because it wasn't as rosey as they were told it was speaks volumes for PEII's Presidnet and CEO.
Although the "glass ceiling" of .0022 has been hovering over PEII all month
We think that could get shattered tomorrow and why having a closer look at PEII could be a very wise decision.
Any news of their Simon Lease or of existing production topping 100 BOPD could send PEII skyrocketing again.
Here's where you can begin your research on PEII:
PEIII Website: www.petronenergyii.com
Barchart.com: www.barchart.com/quotes/stocks/PEII
PEIII @ OTCMarkets: www.otcmarkets.com/stock/peii/company-info
Have PEII on your radar screen for tomorrow morning and remember to keep a close eye out on GCEI, especially if you're already in for updates to come on their SON deal.
