Gushing gains off announcing early production progress of 2 new wells and a 15% increase from rework operations in Oklahoma, the penny stock of Petron Energy II, Inc. (PEII) had the most IMPRESSIVE outing on the OTC by far on Thursday. Despite a gap open of 127% from Wednesday’s close of 0.012, PEII stock spurted upwards to as high as 0.085 towards the very end of the trading sessions, offering up intraday profits of over 210% and gains of 1,130% for the week. With record volume and momentum headed into the end of the week, this Oklahoma oil & gas explorer looks to drop a dime much Sooner than anyone could have anticipated.
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PEII Stock Quote
Market Cap: 2.95M
Last: 0.075 ▲ +0.063 (+525.00%)
Dollar Volume: $936,545
Issued and Outstanding: 39,318,438
14-Day Rel Strength: 76.76%
1st Resistance Point: 0.099
1st Support Level: 0.037
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Petron Energy II absolutely nailed it today on the OTC after ending the session as the 5th most traded penny stock, and there is still room for more gains for those looking at the growth the oil & gas explorers are on. Sales for the year ended December 31, 2012 increased by 63.67% compared to the same period in 2011 after the company booked $326,343 versus $199,387.
Oil & gas sales for Q1, 2013, $106,874 versus $90,634 for the same period in 2012, already had Petron Energy II on pace to beat 2012 by as much as 31%. Hence the announcement today the Company successfully fractured the wells named Covenant #5 and the LaNina #2 and recently put the wells online with each well moving an acceptable level of fluid, it didn’t take any magic for the news to finally stimulate PEII stock.
With Floyd L. Smith, CEO, CFO, President, Secretary, Treasurer and Director of Petron Energy II, having held 23,488,743 shares of PEII as of the end of 2012 (61.6% of the issued and outstanding), today’s session proved quite simply that a low float stock with a high level of demand behind it can not be held back from throwing up solid gains.
About PEII Stock
Petron Energy II, Inc. is a development stage company engaged primarily in the acquisition, development, production, exploration for and the sale of oil, gas and gas liquids in the states of Texas and Oklahoma.
Click here to view the SEC filings for PEII.
Click here to view the website for Petron Energy II.
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PEII should remain on the list of penny stocks to watch as the week draws to a close tomorrow. Even though PEII stock had an extremely IMPRESSIVE day off of some solid awareness, it should be able to maintain most of today’s gains as it heads into the end of summer. Q filings and new drilling will ultimately be the propulsion mechanism primarily used for the remainder of the year.
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