Regardless of a latest slide in oil costs, a number of penny shares within the sector are on fireplace and require your consideration.
Allied Power Company (OTCMKTS:AGYP), a Texas-based oil and gasoline explorer with two main tasks, one extraordinarily near manufacturing per latest press; has been on a severe bull run.
Friday AGYP recorded a brand new excessive of $0.83, this seems like the following little bit of resistance. Nonetheless, judging by the way in which the corporate has damaged via the final three ranges it won’t be their 52-week excessive for lengthy.
The corporate has been constantly releasing tweets and press on their Inexperienced and Gilmer leases, which isn’t fairly music to the ears of short-sellers who, in accordance with FINRA, accounted for roughly 50% of the corporate’s quantity over the month. A squeeze could also be on the horizon.
Allied Power, Inc. (OTCMKTS:AGGI) is up 140% over the previous month, nonetheless, there may be nonetheless a ton of headroom on the 12-month chart. Nicely beneath its 4 cent excessive, there should be earnings on this inventory that could possibly be benefiting from identify recognition primarily based on the rising reputation of the aforementioned Allied Power Company.
MDM Permian, Inc. (OTCMKTS:MDMP) value spiked initially of the month to $0.232. At the moment, at $0.13 that’s nicely beneath the one month, and even additional beneath the one-year excessive of $0.59. Like AGYP, MDM Permian is a Texas-based explorer with operations underway for the completion of latest zones in previous wells already acquired and is allowing a brand new nicely on the Lindley A lease, Irion County, Texas. The corporate can be making ready to begin completion operations on the Brown lease, Nolan County, Texas.
Foothills Exploration, Inc. (OTCMKTS:FTXP) is up 70% over the previous month marching proper up the chart from $0.0014 to Monday’s shut of $0.0024. Yesterday specifically was lucky for FTXP buyers because the inventory climbed 33%. The inventory might have discovered help and has a protracted strategy to go earlier than reaching its 52-week excessive of $0.015.
The inventory is benefiting from latest information of a stability sheet initiative. Over the previous 100 days, the Firm has paid $1.6 million to retire 10 variable-rate convertible promissory notes. That ought to make it simpler for FTXP transferring ahead.