Shares in the penny stock of Independence Energy Corp. (OTC: IDNG) could test $4.00 today after the recent oil drilling update. IDNG stock closed at $3.72, down -0.53%, after trading between $3.69 and $3.77 for the day. At 6am Wednesday, the Company announced that it had received confirmation that the contracted completion rig for their Taylor-MEI #113 well has been booked for a Friday, June 15, delivery. Two weeks ago, the Shields-MEI #105H Horizontal Well intersected an oil-bearing formation.
IDNG stock is currently up $1.62, 77.14%, since our alert at $2.10.
Looking for Hot Penny Stocks? Click here and get Alerts on the Best Penny Stocks FREE.
Independence Energy targets potential oil bearing formations that have shown to be productive in the past. The Taylor-MEI #113 is part of a 2 well re-completion program. The 2 wells, the Taylor-MEI #113 and the Taylor-MEI #115, were originally drilled to, and completed in, the Ellenburger formation (4,400 feet). Currently, the 2 wells are in the re-completion stage to the Gardner Sandstone formation (3,700 feet). The Taylor-MEI #113 is projected to take approximately 10 days to complete. Note: IDNG has a 2.5% working interest in these wells.
The Taylor Lease property, where Independence Energy’s leaseholds are located, historically produced oil from 4 wells that were originally drilled during the 1950’s. No development work had been conducted on the wells until Independence acquired them.
Bottom Line: IDNG has been a strong penny stock landing on Millionaires Row, top dollar volume list, multiple times in the last two weeks. At the current price of IDNG stock, expecting to enter now and see a gain of 77.14% is unlikely. Those who own IDNG at our alert price level should continue to adjust their trading plan as it appears the trading week is going to end with another announcement from the Company.
Here is your opportunity to subscribe to the most elite penny stock newsletter.
Sign up with your email address now & get ready to make HUGE PROFITS on stocks that RUN.
(We are 100% Anti-Spam and will never rent or sell your information)
And Remember to Always:
- Do Your Own Research.
- Trade Responsibly.
- Verify Everything.
- Move Fast or Get Left Behind.
- Do not Use Market Orders to Enter a Position, Use Limit Orders.
- Have a System That fits You.
- If a Stock Gaps Open, Look for Pullbacks to Enter.
- Plan a Trade and Trade a Plan.
- Always Use Stop Loss Orders to Protect Yourself.
- Positive Attitude / Positive Self- Belief.
- Keep Penny Stock Trading as Part of a Balanced life.
- If a Stock Breaks Below Our Alert Price GET OUT. Do not wait.
- View Trading as a Score in Points and Not In Money:
- Always Take Your Profits Whenever You Can. Do Not Be Greedy.
- Work Hard at Learning How to Trade Properly and Keep Working.
- Do Something to make Someone Else’s Life Better Today.
JUN
