REASONS THIS STOCK COULD SOAR WHEN OIL PRICES SPIKE 50 - 100%
- The company was founded by a former Exxon Mobil president responsible for 300,000 barrels of production a day (BOPD).
- Management has invested over $1.5 MILLION in establishing the corporate structure, refining acquisition parameters and developing the current deal pipeline.
- Current production averages 1133 barrels of oil per month (BOPM) representing 950,000 BO proved / probable reserves. This project is estimated to do 3400 BOPM after rework.
- Proven and probable (2P) reserves associated with their Louisiana assets have a discounted present value (PV10) of $41,245,950 as of a March 1, 2011 reserve summary prepared by management, indicating attractive potential for growth.
- Closed bridge financing for $150,000 and went public in 2011.
- Plans to acquire over 1,500 acres with over 59 shut-in wells and 30 producing wells with 40 BOPD of current production, which will do 200 BOPD with minimal rework representing 2.1 MILLION barrels of proven reserves. A preliminary agreement has already been secured.
- Plans to acquire and develop $200 MILLION in proven reserves.
Dune Energy Inc.: Back on Its Feet
Exactly a month ago, Dune Energy Inc(OTC:DUNR, DUNR message board) traded at $1.3 per share. Yesterday, the session closed at $0.57 per share. Quite a free fall, although there have been positive sessions in May. Just like the session yesterday. In terms of volume, this Wednesday was the 52 week high as well. The question is - why yesterday?
So, 17% increase in the stock price, with more than 4 million shares exchanging hands. No news at hand; no promotions at hand; no activity from shorters. In fact, the only objective catalyst was the announcement from Monday about the equity report available from GlobalEquityReport. Announcement, which however, did not have much of an impact on the trading activity or the stock price. In fact, it seems that the usual catalysts don`t work for DUNR, as entirely different factors determine the stock performance. A perfect example would be when a financial statement comes out.
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