The penny stock of Independence Energy Corp. (OTC: IDNG) is gaining again today after the company announced an additional 2% interest in its prospect well. Over $2 million has already traded on the penny shares as IDNG stock price has gained another 4.47% already today to $3.97. The Company announced that it executed a LOI to acquire an additional 2% interest in the MontCrest Energy Drilling Program #3. If completed, it would raise Independence Energy’s ownership to 7%.
IDNG stock price has increased $1.87, 89.05%, since our initial alert.
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According to Gregory C. Rotelli, CEO and President of IDNG, he believes believe that adding to their current ownership interest fits Independence Energy’s aggressive growth strategy. Note that the MontCrest Drill Program may have encountered oil at the Shields-MEI #105H horizontal well according to reports from the Company’s May 31st update. (see here)
Bottom Line: IDNG has been one of the best performing penny stocks since the beginning of May. Although they announced a possible stock dividend (split) in the coming future, the stock price of IDNG is testing $4 and seeing very little resistance.
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