Folks at Black Stallion Oil and Gas Inc (OTCMKTS:BLKG) and their investors have a reason to smile as the firm ups its game. This is because the company has managed to significantly reverse the unfortunate downward trend that rendered its stock under $1 in June.
BLKG had an impressive stock performance when the stock shifted from the depressing low to a new high of 2.40 in August. The stock was, however, unable to maintain the impressive high and closed at $1.73 during Friday’s close last week. This marked a decrease of 8%, but the investors seem comfortable with that compared to the low performance in June. The company’s average share volume rose from 349,463 to 430, 280 despite the drop that took place last week. BLKG’s market capitalization at the time was $75.90 million.
Black Stallion Oil And Gas Inc (OTCMKTS:BLKG). is one of the major league stock promotion firms. It is located in Los Angeles, CA. Its main agenda is developing the shale oil and resources in the United States and Canada. The firm is currently focusing most of its field resources on the Alberta Basin Bakken located in northwest Montana. The Alberta Basin is said to be one of the biggest reserves of about 7.5 billion barrels of oil and 6.7 trillion cubic feet of natural gas.
The Company has already secured rights to own half of the 2,233-acre Woodrow reserves located within the Alberta Basin Bakken.
The next goal for the firm is to find experts and suppliers that will develop the overall drilling plans for the Montana project. Detailed plans are expected in the future.
As for the stock performance, there is a lot of volatility in the market due to the numerous influences that are tied to the oil and commodities markets. However, the drilling plans are expected to generate some hype amongst the investors.