Traders looking to jump on board the oil and gas money train before everyone else does might want to take a closer look at the super low float penny stock of Texhoma Energy, Inc. (TXHE). The recent reinstatement on the pinksheets after filing their current financials for the longtime oil & gas speculators caused a few dozen trades to get into what could potentially be a 10 bagger. Based on a number of catalysts spotted, there are 4 good reasons why THXE stock demands some serious attention prior to Wednesday’s opening bell.
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TXHE Stock Quote
Market Cap: 767.98K
Last: 0.0139 ▲ +0.0068 (+95.77%)
Dollar Volume: $14,043
14-Day RSI: N/A
1st Resistance Point: 0.0193
1st Support Level: 0.0093
52Wk High: 1.01
52Wk Low: 0.0017
For close to a decade now, Texhoma Energy has been toying around with the acquisition, exploration and production of crude oil and natural gas in different parts of the world. In late, 2004 when they made the move into the industry after initially being set up to own and operate a professional basketball team in the ABA, the Company had some dealings with a Singaporean company, Capersia Pte Ltd., having acquired a 40% stake in a license operated by Black Swan Petroleum Pty. Ltd. which was owned by Black Swan Petroleum Thailand.
Texhoma Energy ended that program in early 2006 and almost immediately signed a deal with Sterling Grant Capital, Inc. for a 5% stake in a project called “Clovelly South” in Lafourche Parish, Louisiana. A month later, the Company formed a wholly owned subsidiary, Texarus Energy, Inc., which got involved with Structured Capital Corp. to purchase certain oil & gas leases in Vermillion Parish, Louisiana which is when the began to start bringing on debt that would eventually be sold to ASC Recap, LLC.
ASC Recap, LLC, aka Stephen Hicks, has had dealings with True North Energy Corporation (TNEN), Bio-Matrix Scientific Group Inc. (BMSN), Brazil Gold Corporation (BRZG), Competitive Technologies Inc. (CTTC) and Andalay Solar, Inc. (WEST). ASC Recap purchased the debt Texahoma Energy had on the streets and, on November 7, 2013, won the right in court to receive 4,977,027 shares of TXHE stock in place of the $1,482,593 (0.2979 per share cost basis) claim it had.
This here alone gives reason as to why TXHE needs to be on every trader’s watch list come the opening bell tomorrow. However, there are even more reasons as to why TXHE stock is a potential 10 bagger from its 0.0139 close on Tuesday.
The legal team behind Texahoma Energy, as per their most recent quarterly filings, is none other than The Loev Law Firm, PC out of Bellaire, Texas. Any trader who has at least one 500% winning trade under his/her belt knows that this firm has been behind some of the biggest winning penny stocks over the last few years like GANK, ROSV, ENCR, GAMN, ETEK, BLFR and, most notably, AwesomePennyStocks’ FARE.
Another reason why THXE stock could be a 10-bagger is simply due to the lack of shares available according to the most recent financial filings. If there’s 55,250,041 issued and outstanding, 50,000,000 of which belong to the sole director, another 4,977,027 which belong to ASC Recap, LLC with nearly a 0.30 cost basis based on the settlement agreement, then there SHOULD only be 273,014 shares of TXHE in the public float which all but guarantees it’s going to run. Then again, this is the pinksheets and who knows how many shares could have been issued since March 31, 2014.
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About TXHE Stock
Texhoma Energy, Inc. is a development stage company engaged in the acquisition, exploration and production of crude oil and natural gas, primarily in south Louisiana and east Texas, including near-shore Gulf of Mexico.
Issued and Outstanding: 55,250,041
Gilbert Steedley, sole Director: 50,000,000
ASC Recap, LLC: 4,977,027
Last 5 Trading Sessions:
If I was a farmer, I would be willing to bet the farm that TXHE becomes one of the hottest pinksheet listed penny stocks before the end of next week. With a virtual float of roughly 30% of today’s trading volume, a surge of interest into TXHE stock could send this into the .05/.10 area with ease, especially if a proper promotional campaign gets behind it to create a stir.