We try to be counterintuitive when we look for tips for our Premium readers. We try to think outside the box. With that in mind, this week we have a company for you that you might not have thought of, but it’s got some massive acreage in the Mississippi Lime in Kansas, and we think it’s sitting nicely for a cash injection that would fund some ambitious drilling.
Petro River Oil Corp. (PTRC:OTCBB) could very quickly go from being something small and easily dismissed, to something very large.
While the company’s stocks aren’t trading much right now due to a reverse merger that was just completed, over the past year, its stocks have seen some impressive performance. In 12 months, the stocks went from under $0.03 per share to $0.33.
What we’re eyeing here is the potential of Petro River’s 100,000 acres in the Mississippi Lime. This is a lot of acreage for such a small company, and that’s why we think it’s positioned for a sweet joint venture deal that would provide the cash necessary for drilling.
The key fundamentals aren’t good right now, but we think that’s about to change.
• Stocks were trading at $0.22 (close, 7 June), with a 52-week high of $0.56
• Market Capitalization: $147.5 million
• Shares Outstanding: 737.3 million
• Revenue $6.2k