Penny Stock Craze puts out feature on PXTE

Paxton Energy Inc. (PXTE) engages in the acquisition, exploration and development of oil and natural gas properties with proven and probable reserves in Texas, Oklahoma and Louisiana.

PXTE’s latest acquisition of Virgin Oil could be their best yet! That’s because a third-party reserve report calculates Virgin’s net proven reserves at 6.4 million barrels of oil equivalent in addition to net probable reserves at 1.8 million barrels of oil equivalent.

And with oil trending up heading into the summer months, well over $100 per barrel today, it’s possible to see PXTE at $.235 is worth a close look today.

And just before that PXTE announced the 546-acre Vermillion 179 lease, acquired from Meridian Offshore – which, coincidentally or not, is adjacent to one of Exxon’s wells, currently producing 2,500 barrels of oil per day!

 

Posted by on May 4 2011. Filed under Hot Stock Profiles. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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