If you had to pick one penny stock on the OTC markets that was about to fart a volume spike, you might choose Kabe Exploration Inc. (OTC: KABX). Claiming up to 50 horizontal oil wells are going to be dug on their recently closed 7,300 gross acres of the Mississippi Lime Oil formation in Cowley County Kansas, some traders are speculating big things to come. When looking at how KABX stock just went through a 3-for-1 forward stock split, the chances of seeing an additional 0 after the decimal point is more likely to occur than any oil wells being dug or farting out wisps of natural gas in this century.
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KABX Stock Chart
Market Cap: 10.58M
Last: 0.09 ▲ 0.01 (12.50%)
Dollar Volume: $9,450
Issued and Outstanding: 117,609,750
14-Day Rel Strength: 54.89%
14-Day Stochastic: 88.89%
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The set up all sounds good for Kabe Exploration. High grade oil has historically come out of Mississippian Lime horizontally drilled wells, approximately 300,000 – 400,000 barrels of oil per well at relatively shallow drilling depths; 4,000 feet. The question is: How can you drill for oil when you only had $663 in the bank at September 30, 2012 (double that from the start of the year: $349)?
Enter Fortune Oil & Gas, Inc. (FOGC).
According to reports, Fortune Oil & Gas, another leader in the “no assets available to get the job done” category, was named today as the operator for Kabe’s Horizontal Mississippian Lime Oil Development. The naming was as easy as a PR issuance. Both of these two oil focused companies have one more thing in common than being in bed together with this Cowley County acreage, they are both fantastic candidates for trip-zero share prices. (Oops, FOGC stock already is.)
About KABX Stock
Kabe Exploration, Inc., a “shell company” defined in Rule 405 under the Securities Act of 1933 and Rule 12b-2 under the Securities Exchange Act of 1934, is an oil & gas exploration and development company that acquires mineral rights in prolific shale plays for production. Click here to view the SEC filings for KABX.
Last 5 Tradings Sessions:
Bottom Line: Some traders are gonna get caught in the fartnado of KABX stock one of these days when the level 2 set up makes it look like a penny stock ready to breakout. Make sure if you’re playing KABX any day in the next 29 years to consider it for what its worth at present — a flip worth as long as a fart can live in a crowded elevator.
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