Remember when reports came out in June that Fox News had fired paid contributor Tobin Smith for his part in promoting Petrosonic Energy (PSON)? Well, now known as Tobin Smith, Fox News alumnus, he’s at it again on another energy focused penny stock: Gray Fox Petroleum Corp. (GFOX). Although Cohen’s RDI was the first to kick-off the GFOX stock party in December, the colorful “Turn $10,000 into $282,000 in the next 8 months” is making its presence known on the OTC thanks to a $389,561.10 awareness campaign.
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GFOX Stock Quote
Market Cap: 38.30M
Last: 1.08 ▲ +0.115 (+11.92%)
Dollar Volume: $639,477
Issued and Outstanding: 35,660,000
Lawrence Pemble: 18,400,000
14-Day Rel Strength: 61.16%
1st Resistance Point: 1.1233
1st Support Level: 1.0433
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Back in June, reports (see here) describe why Smith is now an alumnus and no longer a paid contributor / regular panelist on Fox News’ Bulls & Bears. Smith’s NBT Equities sent out an email and ad flier via his new Next Big Thing newsletter touting PSON stock with a disclaimer saying it was paid advertising, for which NBT banked $50,000. Although he never mentioned PSON on the air at Fox News, some investors who bought into Petrosonic Energy based on Smith’s recommendation contacted WSJ‘s Market Watch blog, apparently not having read the disclaimer.
Now, with Gray Fox Petroleum’s GFOX as the headliner, the comparisons to some of the best oil stocks in recent history is being made since the exploration stage former interior design focused company has somehow managed to lock up a 100% working interest in a prime, 32,723 acre oil prospect known as the West Ranch Prospect.
Under the sole directorship of Lawrence Pemble, 25, Gray Fox Petroleum Corp., on December 2, 2013, completed the acquisition of 22 separate oil and gas leases issued by the Bureau of Land Management for the U.S. pursuant to a Lease Purchase Agreement with FFMJ, LLC. The leased land comprises 32,723 acres in the Butte Valley Oil Play Region in north central Nevada and has expiration dates ranging from March 31, 2016 to July 31, 2017.
Thanks to the paper leases, Gray Fox does has a 100% Working Interest and an 82% Net Revenue Interest in the Leases. For a quick math lesson: 82% of 0 is still 0.
Because of these paper leases, the tout is on the potential that there could possibly be 1.25 billion barrels of oil within them making GFOX a prime takeover target for any major oil company. Smith’s report goes on to throw out ideas like:
- Noble Energy (NYSE:NBL) just announced an aggressive $130 million exploration plan for its Nevada prospect. Noble might decide $25 a share for GFOX’s estimated 1.25 billion barrels of oil is a bargain.
- With ownership of 75,885 Nevada acres EOG Resources Inc (NYSE:EOG) is not only a potential buyer, but in my opinion a front runner in the race to grab GFOX’s potential 1.25 billion barrels of oil.
Hey, if either of these 2 (or any other oil company) offer as much as $2 a share for GFOX in a takeover attempt, I will personally open a “fart in a pair of underwear” booth at the next chili cook-off and eat them on stage for the world to see. There’s a better chance of Tim Sykes being cast as the lead in a Wolf of Wall Street sequel than there is of GFOX stock surviving the month above $1.
About GFOX Stock
Gray Fox Petroleum Corp., originally formed to provide interior design and architectural visualization, 3D rendering and architectural animation services, is an exploration stage company which intends to explore alternative business opportunities within the oil & gas industry.
Last 5 Trading Sessions:
PSON stock peaked at $1.38 back in mid-June which indicates that GFOX has roughly the same potential even though penny stock season has just about kicked off. Today’s attention GFOX stock received is still low for what is due to come. Once the 1 million share volume level has been reached, shouts of “timber” will be heard throughout the OTC before the slow collapse begins.
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