In A Van Down By The Riverdale Oil & Gas Corp. (RVDO)

RVDONews from more than one year ago finally had a chance to settle in an make an impact on the penny stock of Riverdale Oil & Gas Corp. (RVDO) late Friday afternoon. The oil and gas explorers announced back on February 6, 2013 a $1.5 million financing deal to fund their drilling efforts which valued the shares of RVDO stock to be sold at $0.60 ($15,000 would get you 25,000 shares). Although it took nearly 367 days for the news to sink in, Yahoo Finance deleting the PR over the weekend is bad news, even though CEO Ron Herzfeld wants his updated message to shareholders to be heard having removed “artificially manipulated” from his closing line.

UPDATE: See the PR published at 9:00AM Feb. 6, 2013 here which was pulled down after one year.

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RVDO Stock Quote

Market Cap: 3.27M
Last: 0.125 ▲ +0.119 (+1,983.33%)
Volume: 3,349,658
Dollar Volume: $179,410
Open: 0.01
High: 0.15
Low: 0.01
Trades: 93
Authorized: 100,000,000
Issued and Outstanding: 26,146,432
Float: 17,616,748
1st Resistance Point: 0.18
1st Support Level: 0.04

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Other than the news from Feb 6, 2013, it had been almost 20 months, nearly 2 years, to the day, since shareholders of RVDO stock heard any publicized news about what’s going on with Riverdale Oil & Gas Corp. The last news that was reported was that their was a significant discovery in the Lampley #1R well located in Lavaca Co., Texas, estimated to be in the range of 25 to 30 barrels per day per 1000 MCF of gas, which he Company holds a whopping 1.667% working interest in.

The interest is so weak that for the 3 months ended September 30, 2013, Riverdale was able to bank $962 in production revenue. This likely explains why the Company’s website,, appears to have been put together on a shoestring budget despite the eagerness to attract some investors to dig deep and buy $15,000 worth of RVDO stock to get back 25,000 shares.

The announcement from Thursday of the Company’s intent on raising $1.5 million through a private placement memorandum (“PPM”) for their RVDO 2013-1 Program projects to cost Riverdale $850,000 in order for them to acquire 17 or more interests in existing production and new drilling programs. Then came the SNAFU:

Evaluation is currently ongoing for production interest acquisition and evaluation of potential industry-based drilling prospects. It is projected that the funding will be complete during the 1st Qtr. 2013 and that the available funds will be invested by the end of the 2nd Qtr. 2013.

2013? Their’s no way this happened in 2013 since Riverdale only had $179 in the bank and assets worth a total of $23,050 as of September 30, 2013. That’s likely why the news stayed syndicated to all of the financial quote websites until after the end of trading on Friday before expiring and why Ron Herzfeld, with a big grin on his mug, updated the Company’s homepage to read:

We want to thank all of our old and now new shareholders after Friday’s very unexpected rally that has moved our price per share in the right direction. We want to stress our appreciation to our shareholders and will continue to work hard to add value to your portfolios.

No more living in a van down by the river after Friday’s action.

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About RVDO Stock

Riverdale Oil & Gas Corp. is a development stage oil and gas exploration company focused on exploration, development, and production of oil and gas in the areas of south Texas and the Gulf Coast of Texas.

Click here to view the financial filings for RVDO.
Click here to view the website for Riverdale Oil & Gas.

Last 5 Trading Sessions:

Date Open High Low Last Change % Change Volume
02/07/14 0.0100 0.1500 0.0100 0.1250 +0.1190 +1,983.33% 3,349,600
02/04/14 0.0066 0.0066 0.0050 0.0060 -0.0010 -14.29% 537,100
02/03/14 0.0070 0.0070 0.0070 0.0070 unch unch 15,000
01/29/14 0.0070 0.0070 0.0070 0.0070 -0.0010 -12.50% 30,000
01/28/14 0.0100 0.0100 0.0080 0.0080 -0.0020 -20.00% 20,000


Bottom Line:

As much as you want to believe in oil and gas related penny stocks like RVDO when they put out news, you just can’t trust the message as far as you can throw it. A lot of volume went into the 2 hour rally RVDO had on late Friday and there is going to have to be some serious interest this week if that PPS is going to settle down anywhere over .03. With everyone flocking to WPWR at the open, the flow of cash is likely to dry up the liquidity of Riverdale Oil & Gas’ riverbed.

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