The penny stock of Polar Petroleum Corp. (POLR) continues to exceed most traders’ expectations as it continues to hover above the 45 level. Still up more than 440% from when we initiated coverage on the oil explorer, shares of POLR stock are seeing better than average activity today after announcing the finalized acquisition of a 100% Working Interest in 12 offshore oil and gas leases in Alaska’s prolific North Slope region. Based on the chart for the last month plus since trading picked up, it looks as if the peak has been reached, but you never know with these cheap oil stocks.
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POLR Stock Quote
Market Cap: 232.37M
Last: 5.41 ▲ 0.44 (+8.85%)
Dollar Volume: $1,770,506
1st Resistance Point: 5.5667
1st Support Level: 5.1167
14-Day Rel Strength: 64.74%
14-Day Stochastic: 60.32%
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The PR issued today confirms what we suspected and pointed out in our initial coverage of POLR stock. The Company’s newly acquired 19,662 acres, called the “North Point Thomson Project” properties, are located within a metaphoric stone’s throw to significant oil and gas activities, both historic and ongoing, in Alaska’s North Slope region.
Polar’s newly acquired land:
• Borders ExxonMobil’s Point Thomson Unit to the north;
• Is 60 miles East of Prudhoe Bay, North America’s largest oil field and the largest producing field in America;
• Is 8 miles NE of the producing Badami Unit (60+ MMBO).
• Is 9 miles SW of Unocal/Shell’s Hammerhead-Sivulliq discovery (100-200+ MMBO);
• Is 12 miles WSW of the Kuvlum discovery (160-300 MMBO);
• Is 8 miles northwest of the Stinson discovery (150+ MMBO);
• Sits along an EW line of exploratory wells that have encountered carbonate-rich, Pre-Mississippian “basement” lithologies, starting 8 miles to the east: Stinson #1, Alaska State #A-1, Alaska State #F-1, Alaska Island #1, Challenge Island #1 (on the western end of the North Point Thomson Project), and extending westward towards the Liberty Unit area
Basically, POLR is one of those penny stocks you should have grabbed at under $1 when we told you to a month ago. $10,000 invested then would be worth $54,400 now. That makes for a wicked summer vacation.
About POLR Stock
Polar Petroleum Corp. recently entered into the oil and gas business to engage in the exploration, development and production of oil and gas properties primarily in the State of Alaska.
Click here to view the SEC filings for POLR.
Click here to view the website for Polar Petroleum.
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Shoulda, woulda, coulda is what traders who missed out on this hot penny stock are saying. But hey, POLR is just one of the many picks we have covered in the last month plus that have provided solid gains of over 300%. Wih our next pick due out in less than a week’s time, better late than never if you are just finding out about us now.
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