After updating shareholders about how the Company’s getting its elbow rubbed by Russian oil and natural gas giant Rosneft, the penny stock of Polar Petroleum Corp. (POLR) set another new high today. Up over 330% at today’s HOD since we uncovered the oil explorer, POLR stock hasn’t even seen a breakout session yet as volume still hasn’t broken the 1 million mark in a day. As the PPS surged over the $5 mark today for the first time, the Company’s Hemi Springs Project might start becoming an acquisition target by some of the big oil giants in the region making 332% gains in a month look like chump change.
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POLR Stock Quote
Market Cap: 228.50M
Monday Close: 5.32 ▲ +1.28 (+31.68%)
Dollar Volume: $2,585,438
Issued and Outstanding: 42,952,500
14-Day Rel Strength: 77.85%
14-Day Stochastic: 97.84%
1st Resistance Point: 5.78
1st Support Level: 4.49
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As the snow thaws in the region, Polar Petroleum’s recent surge has come without a drop of oil having spurt from any one of their oil wells. The mere existence of Exxon in the area and Russia’s Rosneft’s interest in becoming involved with the potentially lucrative North American gas market that is hoping to be able to deliver liquefied natural gas to other markets such as Asia, and for the acquisition of technological advancements that will help the development of their own Russian properties within the Arctic circle has been a fire under the PPS for POLR stock.
After dipping from its early run to $4.27 and dropping -38.88% in two days, the name dropping of some of the oil industry giants like Donald W. Brizzolara to Polar Petroleum’s Advisory Board as Chief Geological Advisor has helped to refuel the short-term run POLR stock is on. Couple that with increased awareness in the form of hard mailers, and its clear to see why POLR stock has doubled in the past week.
It all looks good after today’s late-day rally to gain more than $1 after lunch and should continue to be a strong candidate to test higher levels each day this week with new fish entering the waters now. With Memorial Day approaching, expect to see a sell off late in the week or early next week if you missed out on the under $1.25 shares.
About POLR Stock
Polar Petroleum Corp. recently entered into the oil and gas business to engage in the exploration, development and production of oil and gas properties primarily in the State of Alaska.
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