Stratex Oil & Gas Holdings, Inc. (OTCMKTS:STTX) Surges Onwards

STTXchart.pngYesterday marked another great session for Stratex Oil & Gas holdings, Inc. (OTCMKTS:STIX) making it a third in a row. The ticker jumped up by more than 15% to close at $1.49 on a almost record traded volume of 500 thousand shares. Although as percentage the gain isn’t as impressive as the ones typically seen on the pennystock market the $0.2 increase that stands behind it is a rare sight.

STTX are engaged in exploration and sale of oil and gas. They own a number of different leases across various states of the USA. Unlike most of the other companies that never get past the promises of future revenues and massive reserves of oil, STTX have real operations and have conducting oil sales for some time now. Strange as it may sound the main plan of operations for the company isn’t the drilling of oil wells. Stratex has set its mission to collect oil and gas leases on properties primarily in the infamous Bakken formation in North Dakota and Montana. The twist is that they have no intentions to operate the drilling programs, but rather want to participate in the cash flow though a carried interest in each property. And it seems to be working.

According to their latest financial report STTX finished the period ending March 31 with the following results:

  • $460 thousand cash
  • $702 thousand total current assents
  • $2 million total current liabilities 
  • $266 thousand revenue
  • $561 thousand net loss

STTXlogo.pngThe company is still managing to keep its debt at acceptable levels. For the period they have avoided issuing any major amounts of new common shares which is a sight for sore eyes. The revenue flow also seems to be improving compared to the same period last year. Another positive sign is that at least for now they have stayed clear from any paid promotions.

That cannot be said for some of the other major gainers during yesterdays session. Growlife Inc. (OTCBB:PHOT) added nearly 20% after yet another PR news article and Blue Earth Inc (OTCMKTS:BBLU) we discussed in more detail in our article.

Currently the stock of STTX is 3% down. That is why nvestors are encouraged to find the time and do their own due diligence before committing to any trades because even at these higher price levels the inherent volatility of the pennystocks shouldn’t be underestimated.

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