It’s less than one hour since the opening bell and the party is already starting. Once again, the inbox is overflowing with thank you messages from traders who have, as of 10am today, made over 320% on the penny stock of Worthington Energy, Inc. (WGAS). Covered in detail last Friday as a perfect set up for a bounce play, shares of WGAS stock exploded at the open after issuing updated news last night about the Company’s newly appointed Board of Director’s member, David Pinkman.
Included in the announcement was word of $8.5 million of funding, something every long trader has been waiting patiently to hear and bounce players are using to do more than just have a night on the town with their less than one week gains which have plenty of room to add more. With WGAS stock already popping, there is a strong chance it runs even further!
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WGAS Stock Chart
Market Cap: 859.24K
Last: 0.02 ▲ 0.0135 (207.69%)
Dollar Volume: $249,000
14-Day Rel Strength: 60.39%
14-Day Stochastic: 93.26%
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The oil and natural gas properties developer, Worthington Energy, finally took time out to update their shareholders who have been taken an absolute beating since the end of October. The Company reassured and updated the status of the their Vermillion Block 179 asset as well as introduce publicly the newest member to the BoD, David Pinkman.
Located in the shallow waters of the Gulf of Mexico offshore from Louisiana, the Company’s 70% working interest, with a net revenue interest of 51.975%, in the 546.875 acres of the Vermillion Block 179 is adjacent to Exxon’s producing VM164 #A9 well.
The big pop came from comments made by Chairman of the Board and recently reappointed CEO and President of the Company, Charles F. Volk, when he was quoted saying “I am pleased to report that we received a commitment letter for an $8.5 million term loan from Ventana Group LLC.” Nothing more need be said for shareholders to finally take advantage of WGAS stock price which has been as low as $0.0055 in recent days — gains worth over 332% as of the 10am HOD, 263% at the current price, $0.02.
The best part is that WGAS can still run even further!
About WGAS Stock
Worthington Energy Inc. is a engages in the acquisition, exploration, development and drilling of oil and natural gas properties. Click here to view the SEC filings for WGAS.
Last 5 Trading Sessions:
Bottom Line: We know penny stocks. Congrats to all that grabbed those sub-penny shares since our alert last Friday on WGAS and are taking profits today. Add up all the big money players out there, you made more off our bounce play pick of WGAS stock than on any of them collectively for the week.
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