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Momentum in Speculative Oil & Gas Stocks Continues: MXC, PDO, FPP, SSN)
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The momentum in the speculative oil & gas stocks is still in full effect.
Yesterday, we discussed a few of the "anointed" ones: Mexco Energy Corp. (AMEX: MXC), Pyramid Oil Co. (AMEX: PDO) and Fieldpoint Petroleum Corp. (AMEX: FPP). They are all higher again. MXC is up 30%, PDO is up 21% and FPP is up 34%.
Today, there is a new one to add to the list: Samson Oil & Gas Limited (AMEX: SSN), the stock is up 80%. SSN announced today that it paid $96K (that's right thousand) for a 100% working interest (75% revenue interest) for a piece of land adjacent to a producing oil field. That was the best $96K ever spent. The stock's value rose over $30 million today.
Also a couple 'blasts from the past' are also on the momentum bandwagon again: Blue Dolphin Energy Co (Nasdaq: BDCO) and SMF Energy Corporation (Nasdaq: FUEL), are up 32% and 23%, respectively.
As we mentioned, this excessive momentum can last a few weeks to months, but don't be the last one out!
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