Axiom Oil and Gas Corp (OTCMKTS:AXIO) was a massive decliner during Thursday’s trading session plunging by 28% on heavy volumes which were 10 times the 30 day average. The stock witnessed a hugely volatile session during Wednesday’s trading session, the sell-off seen overnight is a clear indication that bears are in full control. Axiom currently trades below all important moving averages. The index measuring momentum continues to point towards strong bearish interest at current levels and shows no signs of a reversal, which is a cause for concern. Traders see the stock facing resistance at levels of $0.19 in the near term.
Axiom Oil and Gas Corp (OTCMKTS:AXIO) is actively looking to expand its network across USA. In this series, it has decided to appoint a petroleum industry expert, so that all the development activities in Montana, USA can be carried out without any hassle.
Insights of The Matter
In a recent public statement, Axiom Oil announced that its operative partner Grassy Butte LLC had entered into a contract with Apex Energy Consultants Inc. to carry out domestic development activities in an effective manner. Grassy Butte LLC looks after Axiom’s leases in Kevin-Sunburst Dome located in the Toole County of Montana.
The primary reason for contracting Apex Energy Consultants is that it’s one of the leading and most sought after petroleum engineering firms in the nation, and can help the company live up the expectations of its customers. It provides engineering services to domestic as well as global firms and has expert knowledge in production and reservoir enhancement. It serves hundreds of clients in over 40 countries and is expected to help Axiom in expanding client network in the area.
The senior management teams at Axiom and its partner firm Grassy Butte LLC are delighted to announce this news of partnering with Apex and hope that this initiative will work well.
It’s not the first time when Axiom has taken any such initiative in the recent past. Previously, it announced a change in its senior management team and appointed well-known Brian Jensen, CPA as the new Chief Financial Officer of the company. In addition to this highly critical role, Jensen accepted the directorship of the company. He has over two decades of experience in financial and corporate governance matters and known for helping early stage business coming out of financial distress.
Axiom looks forward to taking many more such initiatives in the future, details of which will be shared with investors from time to time.