SPRN gains 11% trading gains early
Published: Fri, 03/31/17
 SMS alerts can make the difference between a profitable trade and a missed opportunity. Text “alert” to 97000 to receive our instant, reliable and free SMS alerts. Good morning all, SPRN delivered some solid morning gains on good volume. Opening at $0.09 it quickly ran to a high of $0.10 within the first 30 minutes of the trading day, for real tradable gains of around 10-11%. It hovered between $0.097 and $0.10 for close to an hour but unfortunately some profit taking has occurred and momentum has stalled. The chart still looks like this could be a nice multi-day bounce play, as long as key support of around $0.085 continues to hold. If it breaks through this level, its game off. But if it holds, we could see continued upside action later today and into next week. So keep your eye on SPRN today and look for opportunities to enter. Congrats if you got in early and banked. Happy trading. SmallCapMomo.com -------------------------------------------------------------------------------------------------------- Hello fellow investors / traders, Today I've identified a low float play that recently made a huge run from around $0.10 all the way to $0.30 in just over a week.
It has since pulled back and consolidated over the past few weeks at just under $0.10 where it all began, The ticker is SPRN. According to OTCMarkets.com, SPRN has a market cap of just over $600k, and a tiny float of around 6m shares. The technical's are not exactly text book here, but having fallen from lofty heights in recent weeks, the SPRN chart is screaming bounce. SPRN has seen a recent volume surge earlier this month on major news the Company announced regarding their oil and gas operations, which resulted in the aforementioned 200% breakout run. Now back at pre-breakout levels, we see several upside targets including its prior resistance of around $0.15, its 100 day moving average at around $0.13, and its shorter term 50 day moving average of around $0.11. Having closed yesterday at around $0.09, there is plenty of upside to shoot for.  Supernova Energy Inc (SPRN) 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 specialize in well-bore completion, re-completion and workovers on existing oil and gas production. SPRN intends to exploit projects which can deliver cash flows normally associated with higher risk projects, but without exposure to high risk failure rates. The Company intends to target existing production in known oil producing states and apply new exploration technologies to increase production.
SPRN holds working interests in leases located in Kansas and Kentucky. The Company has targeted these states due to the low cost of drilling and exploration as well as their oil friendly state and local governments. Oil leases produce at their maximum rate at the start of their lives, but this production rate eventually declines. In order to maintain production levels, wells will require secondary recovery efforts to boost production back to former levels. That's where SPRN's strategy lies. Re-completion often involves stimulation of the reservoir, perforating old or new casing, and completing alternative sections of pay in an oil producing formation. SPRN intends to capitalize on leases that fit the criteria for secondary recovery. In late 2015, Supernova Energy took control of operations at a majority of its oil and gas leases in the state of Kansas. Since assuming control, the Company has been able to bring four of the leases back into production. As a result, total oil and gas production in the last year (2016) increased to over 2,500 barrels of oil, generating just over $100,000 in revenue. In addition, restarting production enable the Company to significantly improve its balance sheet by adding over $400,000 in asset valuation. "Now that we have taken control of operations and brought oil production back online, we can turn our focus to strategic well recompletions and workovers on each of our leases to build up production levels," commented Kevin Malone, Supernova Energy CEO. "We expect to identify, finance, and develop numerous low-risk opportunities at each of our oil and gas leases over the next year. This should significantly boost our revenues and bottom line." SPRN is the operator of and working interest owner in a total of 8 oil and gas leases -- 4 of which are currently producing. In total, the oil and gas leases cover over 1,300 acres in the state of Kansas. Included are the five Pratt County Leases, encompassing 780 acres, of which SPRN has a 100% working interest.These leases are located within the established Sawyer Field and is currently producing both oil and gas. The Sawyer field has produced an accumulative 3,383,397 MCF and 2,137,418 barrels of oil from four pay zones, (Lansing-Kansas city, Viola, Simpson and Arbuckle); the first well was drilled in 1957. Since taking control as operator of the Pratt County leases in late 2015, SPRN has successfully reworked and restarted production in two temporarily abandoned (TA'D) wells (Keyes A #1 and Keyes B). An existing salt water disposal well (Harrell D) on the leases was also refitted and ungraded in August 2016 to support increased production levels in the field. The Company expects to further upgrade equipment on
producing wells to increase flow rate and decrease water cut. Our Conclusion... We see recent news released by SPRN as major catalysts for strong continued interest from traders and shareholders alike. The 200% surge earlier this month shows what can happen when a spark is lit under SPRN. And given it has retracted 100% of those gains, this could be a nice opportunity to enter before a potential bounce. With a small market cap of just over $600k, and an equally tiny float, this past runner could be back on every traders radar in the coming days. To your success, --------------------------------------------------------------------------------------------------------
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