Could AGRT stock be in the center of a “Perfect Storm?” AGR Tools Inc. (OTC: AGRT) announced it entered into a LOI with Consolidated Oil and Gas for an 80% ownership interest in their 700 acre Paul Lease in Overton County, Tennessee. AGRT, which does business under its new subsidiary AGR Energy, is giving up 5 million restricted shares for the ownership interest. So, could this be the best penny stock, timing the market at the best time, after the Washington Post recently reported on how the new world energy map has shifted from having the Middle East as the center to now being centered on the Americas.
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From Manitoba to Rio, Tennessee to California, oil and gas production in the Western Hemisphere is booming, with the U. S. emerging less dependent on supplies from the unstable Middle East. Central to the new energy equation is the U. S. itself, which has ramped up production and is now churning out 1.7 million more barrels of oil and liquid fuel per day than we did 7 years ago.
“There are new players and drivers in the world,” said Ruben Etcheverry, chief executive of Gas and Oil of Neuquen, a state-owned energy firm that is positioning itself to develop oil and gas fields here in Patagonia. “There is a new geopolitical shift, and those countries that never provided oil and gas can now do so. For the United States, there is a glimmer of the possibility of self-sufficiency.”
Oil produced in Persian Gulf countries, notably Saudi Arabia, Iran, the U.A.E., Kuwait and Iraq, will remain vital to the global energy picture. But, what was once the undeniable truth, that American oil production would steadily fall while the U. S. remained heavily reliant on Middle Eastern supplies, is being turned upside down.
Probably the biggest development in the global shift is how the U. S. went from importing 60% of its liquid fuels in 2005 to 45% last year. The economic downturn in the U. S., improvements in automobile efficiency and an increasing reliance on biofuels all played a role. But, a major driver has been the use of hydraulic fracturing. By blasting water, chemicals and tiny artificial beads at high pressure into tight rock formations to make them porous, workers have increased oil production in North Dakota from a few thousand barrels a day a decade ago to nearly half a million barrels today.
Conservative estimates are that oil and natural gas produced through “fracking” could amount to 3 million barrels a day by 2020. “We have a revolution here,” said Larry Goldstein, director of the Energy Policy Research Foundation in New York. ‘In 47 years in this business, I’ve never seen anything like this. This is the equivalent of a Category 5 hurricane.‘”
Back to AGRT; With 20 historically producing wells on a small portion of the acreage, AGRT has initial plans to drill and complete 10 new wells at a total capital cost of $1.5 milion, with the projected partnership revenue from these 10 wells over a 5 year time frame of roughly $7 million. Vern Wilson, CEO said that the area of the Paul Lease and the Alpine Quadrangle has considerable potential. Wells are shallow with substantial productivity, and are relatively inexpensive to drill.
Bottom Line: AGRT is one of the hot penny stocks looking to explore for oil. If you didn’t already know that, then you must be using the printed version of the Wall Street Journal for your penny stock picks. Other penny stocks that could benefit would be OREO, ZERO, IDNG and uhmmm, oh yeah, NSRS since they just switched from exploring for Gold to exploring for Oil.
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