SPRN Is Poised And Could Deliver Solid Upside In The Near Term
Good Afternoon!
Supernova Energy, Inc. (OTCPINK: SPRN)
Don’t listen to anyone that tells you oil is dead; or that it is near death, or that if it is dead it can’t be resurrected. Doing that could cost you a whole lot of trading gains and my newest trade alert is a fine example of what’s possible.
Before I dive into SPRN, let me bring you up to speed on what’s transpired in the last few weeks and days. Oilprice.com reported recently that Exxon and BP Battle for the ‘Oil Contract of the Century!’
Why would two of the biggest companies in the world be fighting for an oil contract if the black stuff wasn’t still worth trillions?
The battle is all I need to see to realize that investors that turn their backs on oil are perhaps in line to miss the biggest deal out there. But not you…
I say not you because at just 39 cents a share and with a RSI of 51, SPRN is the perfect vehicle for you to capitalize on the bullish momentum that oil is experiencing at the moment.
And get this: SPRN reported an oil discovery back in December. The two wells located in Kentucky point to the fact that even with the latest troubles, it pays to keep one foot on the ground. That’s the only way to ensure that when demand spikes you can have a seat at the table of profits.
SPRN is poised like nothing I have seen in the oil space so clear your trading screen ASAP.
Check out the chart…
Here’s a link to the chart: http://stockcharts.com/h-sc/ui?s=SPRN
About
SPRN Supernova Energy Inc. is an American based oil and gas production and exploration Company with key holdings in Kansas and Kentucky. The Company's goal is to acquire economical leases in known oil and gas formations with low cost of recovery. The strategy is to avoid risk by using new technologies on shallow wells to increase production on existing oil producing leases.
SPRN was founded in 2009 and is based in Rockville Centre, New York.
Oil Deal Fight Of The Century As Exxon & BP Square Off
ExxonMobil and British Petroleum have been facing off over the terms of the renewal of the “contract of the century” in Azerbaijan, according to sources that spoke to Reuters.
BP currently operates the Azeri-Chigar-Guneshi fields in the middle of the Caspian Sea—a region that contributes a tenth of the firm’s global output.
The British company has reportedly agreed with the Azeri government on the terms of a 30-year contract, but in an effort to expand its presence in the ACG region, Exxon has been pushing for a piece of the $100 billion pie.
Exxon currently procures one percent of its hydrocarbon production from the firm’s stakes in the region.
The deadlock between the two companies has exacerbated tensions between Exxon CEO Rex Tillerson and BP CEO Bob Dudley, according to inside sources.
“There have been numerous attempts to find a breakthrough, with BP and Azerbaijan agreeing new terms but Exxon rejecting them time and time again,” a Western source familiar with the negotiations commented. “It has been going on for almost two years, with Exxon insisting on better terms.”
Sources contacted by Reuters did not disclose further details of the deal.
The existing contract between BP and Azeri will remain in place for eight more years, but industry practice pushes leaders to firm up renewals years before contracts are set to expire.
The contract includes three-quarters of Azeri crude oil output, or about 0.7 percent of global production, and involves several firms that are part of the ACG consortium and the Azeri government.
The initial deal went into effect in 1994, three years after the Soviet Union collapsed, allowing the Azeri government to take advantage of its energy wealth for development projects.
Azerbaijan has become a regular provider of energy to Europe as it begins weaning off of Russian supplies after recent waves of geopolitical fallouts.
“Together with our co-venturers in Azerbaijan, we remain committed to building on this record of success and supporting the continued development of the local market,” BP said.
News Development
Supernova Energy Inc. Reports Oil Discovery in Wells Drilled on the Antle Lease in Kentucky
SPRN said in a December 2015 release that it was “pleased to report oil discovery in two recently drilled wells on the 140 acre Antle lease in Kentucky.”
Supernova's CEO, Kevin Malone, commented, "Adding small, steady, low cost producing wells on diversified leases with proven partners is key to increasing revenue and profitability. We are extremely pleased with the results in Kentucky so far, and its fit with our strategy to limit risk by avoiding the high cost of drilling and operating while accumulating daily oil production."
SPRN said that its “future plans for the Antle lease include an analysis of the drill logs and formation mapping, ultimately leading to an expert's final assessment of the remaining areas on the lease to identify additional drill locations within the same formations. Considering the recent oil strikes on the lease, Supernova will consider conducting the drilling on its own to obtain a greater working interest (WI) percentage up to 87.5%.”
To learn more about SPRN please visit their website: http://supernovaenergyinc.com/
SPRN is bound to get some eyeballs as a result of the huge BP Vs Exxon battle so gear up.
