Tuesday’s trading session is likely to see the board get lit up by CellTeck Inc. (CLTK) after they formally announced their merger with Eos, now a wholly-owned subsidiary. The shift from a small, thin, and oval shaped device that protects from the potentially harmful and damaging effects of electromagnetic radiation emitted to acquiring, exploring and developing oil and gas-related assets, including a 100% working interest and 80% net revenue interest in five land leases in Edwards County, Illinois, is sure to send CLTK stock skyrocketing out of control in the coming days.
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CLTK Stock Chart
Market Cap: 203.39K
Close: 0.0033, no change
Dollar Volume: $0
5 Day Moving Average: 0.0033
5 Day Average Volume: 5,208
Issued and Outstanding: 61,633,891
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According to the merger agreement, CellTeck will continue their Safe Cell Tab business for the foreseeable future while their primary business model will be focused on the business of Eos, their new wholly-owned subsidiary, which is in the business of acquiring, exploring and developing oil and gas-related assets. CellTeck’s Eos currently owns the rights to exploit oil on five leases in Illinois, and, through its subsidiaries, is focusing efforts on acquiring rights to properties in Africa that are believed to have oil and gas reserves.
Eos is the 100% owner of its subsidiary Plethora Energy, Inc. and the 90% owner of EOS Atlantic Oil & Gas Ltd., a Ghanaian limited liability company. The other 10% of EOS Atlantic Oil & Gas is said to be owned by one of Eos’ Ghanaian-based consultants.
The Illinois leased property, a tract of land roughly 700 acres in size, borders the Illinois Highway 130 to the north, the Hux Oil Hedge Lease and Illinois Highway 130 to the east, and farmland with small tracts of wooded areas to the south and west located near or within Edwards County, Illinois. Although oil wells have been drilled and developed on the leased property since 1940, none of the wells were in operation between 2008 and 2011 due to the passing of the then-owner of the property having subsequently had the wells shut-in.
Since acquiring the lease to the property in 2011, Eos has reactivated four of the total nineteen oil wells to producing status. There are an additional six injection wells, none of which are presently in use. Plans are to have seven more oil wells and three injection wells reactivated once available financing is obtainable. We estimate that the average cost to reactivate one of these wells is $10,000.
According to Eos, the identified ten locations for the drilling of new wells would cost between $120,000 and $300,000 per well. Based on the subsidiary of CellTeck being able to obtain financing, plans are set for the drilling and completion of four wells in 2012, three in 2013 and three in 2014.
About CLTK Stock
CellTeck, Inc. was focused solely on the marketing and sale of the Safe Cell Tab, a small, thin, and oval shaped device that protects users of cell phones, cordless phones, laptops, microwaves, and other hand held devices from the potentially harmful and damaging effects of electromagnetic radiation emitted from such electrical devices.
After officially merging with Eos, they will continue to pursue the Safe Cell Tab while focusing on the exploration, development, mining, operation and management of medium-scale oil and gas assets which will require the acquisition of land rights, mining equipment and associated consulting activities required to convert the fields into revenue generating assets.
Click here to view the SEC filings for CLTK.
Bottom Line: CLTK is a must add to the list of penny stocks to buy immediately. At $0.0033, how could you possibly go wrong? Based on estimates of $22,379,864 worth of proven oil reserves as per the evaluation information on 300 acres of Eos’ leased property as of September 1, 2012, CLTK stock is a ten-bagger waiting to jump into your portfolio.
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