Many traders made some hefty profits since we began on the penny stock of Save the World Air, Inc. (ZERO), aka STWA, when it was under .40 per share. Focused on reducing viscosity within oil pipeline to increase the flow which cuts down on the costs to push oil thru the line, we stumbled across another one, that’s cheaper, has revenues for the last six quarters, and could be a gem for those who seek out cheap oil stocks: Skye Petroleum, Inc. (SKPO). Having just reported their Q3 earnings yesterday, it would be smart to add SKPO stock to your watchlist.
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SKPO Stock Chart
Market Cap: 5.13M
Close: 0.026, down -0.0340 (-56.67%)
Dollar Volume: $2,591
Average Trade Size: 12,500
Issued and Outstanding: 207,247,000
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Skye Petroleum’s proprietary chemical treatment, a Wax Dispersant chemical technology that has a track record of cleaning out oil wells while stimulating an increase in production, has been both lab tested and field-tested in oil wells in the states of Texas, Colorado and Pennsylvania. Earlier this summer, successful tests of their product on 3 oil wells in Louisiana resulted in the largest order of Skye Chem Wax Dispersant Technology in the company’s history: $23,520 in sales.
Not that the sales number was huge, but it’s at least there which is more than what STWA has been able to book in the last 18 months and almost half of what they booked in the last 13 plus years: $69,000. However, what is encouraging for Skye is comments like those from Billy Joe Edwards, owner of Endurall, Inc. and inventor of the Endurance Brand Rod Guide, of Shreveport, LA., who said, “I found an article in Penn Energy about Skye’s technology and thought that if this actually works, I will be able to sell rod guides in areas that I previously could not due to the abundance of paraffin. We purchased and tested some of Skye’s product and the results were beyond our expectations.”
With positive revenues, a cheap stock price, and the ability to expand the Company’s chemical sales with their self-claimed discussions with major oil and pipeline companies, SKPO stock could be one of those hidden gems that could bang home some decent gains from its current level.
About SKPO Stock
Skye Petroleum, Inc. is currently conducting operations and is revenue positive having developed a unique and pro-active approach in dealing with the problem of paraffin3 buildup that can clog and limit the flow of oil in today’s oil wells. This new, proprietary chemical treatment has been both lab tested and field-tested in oil wells in the states of Texas, Colorado and Pennsylvania.
Click here to view the recent financial report from SKPO.
Bottom Line: SKPO is a cheap penny stock and, being that it falls within the same framework of ZERO, is well worth the addition to the watchlist. Considering the 20 Day Average Volume is just 38,018, look for increased activity on your level 2 screen before jumping in to SKPO stock since, although viscosity reduction is their forte, liquidity in the pink sheet stock currently is not.
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