Falconridge Oil Technologies Corp (OTCMKTS:FROT) is exploding upwards again after a recent short attack took the stock to a low of $0.66. Since then FROT has been moving upwards steadily and is nearing previous highs of $1.25 per share. A break over and FROT is wide open from here.
FROT came to be at the end of last year when the Company changed their name from Ameriwest Petroleum Corp. The promo seems to have started up in earnest in the 3rd week of October after the Company put out an 8k that stated:
On October 15, 2014, we entered into an agreement with LiveCall Investor Relations Company. Pursuant to this agreement, LiveCall is to provide us with investor relation services for a term of three months. In exchange for these services provided by LiveCall, we are to compensate LiveCall with an initial non-refundable fee of $7,500 and $2,500 per month. The term of this agreement will be automatically extended on a monthly basis after the term of three months unless 30 days of written notice is given by either party.
Falconridge Oil Technologies Corp (OTCMKTS:FROT) is a oil and gas technology company that specializes in identifying and accessing additional petroleum reserves that are usually left in the ground. Our value proposition is extracting new resources from wells that have been assessed as uneconomic. Using TST, FalconRidge offers operators a lower-cost alternative to drilling a new well, with practically equal performance results.
FalconRidge’s goal is to shift the industry and social paradigm away from new drilling and towards increasing efficiency of current extraction in existing well-bores to increase recovery of oil and gas. Thus, when widely applied, TST can add significant reserves to the energy resources of the world
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FalconRidge employs an advanced proprietary excavation and hydro cutting technology known as TerraSlicing. The Terra Slicing Technology (referred to as TST) is used to enhance “dead” or non-performing well assets, essentially revitalizing the per-existing well and establishing a flow rate with a significant percentage of its initial production. By applying TST, an operator will retrieve a significant portion of the well reserves still locked in the ground. TST is applied to the following environments:
TerraSlicing may be used in virtually all environments and applications in the oil and gas industry. TST is applicable on land, or marine environments, and may be used for both Oil and Gas well applications, in vertical or horizontal formats. TST is the best option as an alternative to fracking.
FROT website is very well put together and proffesionally built, a big confirmation that there are big things coming here. According to them: Mark Pellicane, President of FROT is considered a visionary leader, and specializing in the areas of product development and implementation, Mr. Pellicane has had a distinctive career in the development of numerous technology, marketing, and financial companies. Mark has always attributed his strength and success to working with industry leaders and pioneers in the field and integrating strong team leadership values to the project at hand.
At the age of 15, Mr. Pellicane was the youngest student accepted to a Canadian University and was educated at the University of Toronto in the field of sciences. Mr. Pellicane furthered his study in Business, and holds an Oxford MBA (Masters in Business Admin) from Hamilton College, Oxford, England. As an intellectual coupled with his working knowledge and experience, Mr. Pellicane brings tremendous value to the table, ensuring success for his initiatives.
Conclusion: FROT has been exploding upwards since hitting the bb’s on accelerating volume and investors are already calling it the next big promo play to hit the OTCBB. While this seems to the case FROT does have the yield designation from Otcmarkets as they are late on their 10q.
Currently trading at a $50 million market valuation FROT looks and feels like a big promo play in the early stages. Investors are hoping for news to solidify it and take this one to the next level. I will have more on FROT as events unfold in the coming days.
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Disclosure: we hold no position in CBIS either long or short and we have not been compensated for this article.