Lately, we have covered a lot of penny stocks in the oil & gas exploration business that have seeing some bullish patterns. Another one to add to that list is Daybreak Oil and Gas, Inc. (DBRM) which is set to report fiscal 2012 earnings in the coming weeks. After announcing initial results of the first well in the initiation of a six well drilling program at the Company’s East Slopes Project in Kern County, California one week ago and results of the second well today, DBRM stock is setting up nicely to continue setting new highs as long as the news keeps flowing.
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DBRM Stock Quote
Market Cap: 7.72M
Last: 0.15 ▲ +0.01 (+7.14%)
Issued and Outstanding: 48,837,939
14-Day Rel Strength: 70.82%
14-Day Stochastic: 90.91%
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When one reads in a PR the term “initiation of”, automatically the image of a start-up comes to mind. Fear not since Daybreak Oil & Gas is set to eclipse $1,000,000 in revenues fr the 12 months ended February 29, 2013. Just from a quick review of their Q filing for the period ended November 30, 2012, the oil exploration company had revenues of $229,913 and $742,034, respectively, for the three and nine months ended versus $290,912 and $1,002,953, respectively, for the same periods the year prior.
News today of Daybreak’s 2nd well drilling results, The Bear #6, drilled to 2,153 feet and estimated to be 25 feet of oil pay in the Vedder Sand, the 37.5% working interest the Company has in the 6 planned Bear wells should be a significant update for those into real penny stocks.
Just two days ago, Daybreak spud their “Sunday #5” well and has commenced drilling operations on it. Considering the amount of time it takes to get oil flowing from a newly drilled well and the fact that the Company is no rookie when it comes to making some money in the business, DBRM stock should be a fun one to watch as we await the release of their 10-K and further updates.
About DBRM Stock
Daybreak Oil and Gas, Inc. is an independent oil and gas exploration company engaged in the exploration, development and production of oil and gas mainly by targeting shallow oil reserves in Kern County California,
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DBRM is not going to be the penny stock that turns $1,000 invested into $5,000 this year or even next. However, those looking for a value opportunity to trade in a sector they truly believe in, especially you Californians, DBRM stock could be your little pony to ride and keep you busy throughout the summer months.
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