America Resources Exploration Inc(OTCBB:AREN) is making a highly explosive move up on huge volume off its $0.15 base to highs over $0.50 after new kids on the block Finestpennystocks.com, Smartstockchoices.com, Bestamericanstocks.com and Elitepennystock.com announced it as their new big pick.
Fresh of their success on Glenmark Capital Corp; GLRKF which they took from illiquid at $0.20 to well over $0.60 on spectacular volume the new kids turned the attention to MEDA which exploded from sub $0.02 to highs over $0.12.
America Resources Exploration Inc(OTCBB:AREN) is an oil and gas exploration and production company focused on the acquisition of properties in areas with significant oil reserves and drilling potential. The Company’s growth strategy includes the acquisition of oil fields from distressed third parties at a substantial discount to value, and development of fields whose potential has not been fully maximized.
On July 28 AREN announced it has begun a property-wide rework program on its Burns and Rogers leases located in Frio and Atascosa County, Texas. The Company plans to rework most of its wells, including those currently producing. America Resources will also re-enter some wells that are currently shut in to bring them back into production.
Over the last few weeks the Company has been orchestrating location setup including equipment delivery such as a workover rig and operational activities are currently underway. America Resources’ operator, Diamond Energy, will be executing the rework program and the Company is additionally soliciting bids from several service providers for its additional completion and oil field service needs.
“We are excited to be entering this phase of development on our Rogers and Burns leases,” stated Huang Yu, CEO of America Resources. “The acquisition decision and price for these assets was largely based on the inactive and degraded status of the existing wells. As we execute on our rework plans, the accretive potential of these transactions will be displayed and it also provides confirmation of our business model. We expect to increase field production significantly as a result of the work by early September.”
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Earlier in July AREN announced it has received the first tranche of the $500,000 financing agreement recently signed with an institutional investor, which will provide the Company with additional working capital as it continues to evaluate acquisition targets to build out its production portfolio.
This first tranche will provide America Resources Exploration with $150,000 and in return the company will issue 1,000,000 shares of AREN at a price of $0.15. At the investor’s discretion, a second tranche would require the Company to issue an additional 750,000 shares at a price of $0.20 and a third tranche of 800,000 shares at $0.25 which, if exercised, would net the Company an additional $350,000.
The latest email from Bestamericanstocks said ”Little oil play AREN is shooting for the stars. If you would like to , please click on this .
Hi Everyone, Just last week, AREN could be bought for 0.15 per share. Fast-forward to this morning and those same shares are now trading for upwards of 45 cents. The shares have been relentlessly moving up every day on strong momentum and a positive chart.
Investors are buying a lot of AREN right now and are very excited about the fast-paced company. A few weeks after buying their new oil field in Texas, they announced that they raised $150,000 with possibly another $350,000.
Days later the company took swift action and mobilized an oil rig and plenty of other equipment on-site and began their work program to activate most of the wells on site. They are not wasting any time and are expecting to significantly increase oil production from that field while aiming for record profits this year.
AREN is the best stock I have covered in the last decade and could quite possibly go to 80 cents by next week. Those wishing to buy AREN this afternoon should move quickly before the market closes. Come tomorrow it may already be past 50 cents.”
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Currently trading at a $64 million market valuation AREN has no assets ore revenues and nothing to suggest anywhere near current valuations with just $5,971 in the treasury. But this is the latest promotion from APS offshoot BestAmericanStocks who is now proving their worth wit this 400% move so far. Short term AREN could easily move much higher, long term the stock will fall just like the rest of their picks.We will be updating on AREN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with AREN.
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Disclosure: we hold no position in AREN either long or short and we have not been compensated for this article.