Black Stallion Oil and Gas Inc(OTCMKTS:BLKG) is one of the biggest penny stock promotions to hit the bb’s in recent months initially making a spectacular run from an $0.80 start point to highs of $2.39 before an epic and entirely predictable crash down right back to where it started in the 1st place.
BLKG is a major league stock promotion: there is a landing page at wallstreetreport.org/wr1/wrm138019295 with a $50,000 disclosed budget that touts ”How ONE STOCK with a $2.1 BILLION Oil Prize could turn $10,000 into $140,000. The US Oil secret and how you can profit from it.
The stock first started trading on the bb’s at the end of last year after the name change from Secure It Corp and 60 for 1 forward stock split in September.
Black Stallion Oil and Gas Inc(OTCMKTS:BLKG) bills itself as a Los Angeles, CA based energy exploration company focused on developing America’s abundant shale oil and gas resources. Black Stallion is currently focused on the emerging Alberta Basin Bakken in northwest Montana, which lies due west of, and shares characteristics with, the prolific Williston Basin’s estimated 6.7 trillion cubic feet of recoverable natural gas and 7.5 billion barrels of recoverable oil.* Black Stallion has secured the right to acquire 50% ownership in the large 12,233-acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway.
Back in July the Company confirmed that it will start to execute a detailed exploration program on the 12,233 Acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway.
Over the coming weeks the company will look to hire key industry experts and engage various third-party companies/suppliers in order to evaluate further and gather all possible data needed to advance towards identifying drill targets on the property. A detailed exploration program will be drawn up in the near future.
In 2014, Black Stallion received a report on the 12,233 Acre Woodrow Prospect. The NI 51-101 Report concludes the Woodrow Prospect offers multiple opportunities for potential oil and gas production across multiple potential targets at shallow depths.
At the time CEO George Drazenovic, said: “Firstly, we are fortunate to have secured the right to acquire ownership in such a large prospect, particularly in a region with this level of potential for domestic energy development and production. We’ve taken a prudent approach before commencing the exploration program due to the turbulent markets in late 2014 and the early half of this year. With that, we feel confident that now is time to drive this exciting project forward. Consequently, we plan to be releasing details as the program plans become further defined in the coming weeks.”
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Earlier this year BLKG announced the appointment of Geologist Michael L. Pinnell, who began his career with Exxon 45 years ago, to the Company’s Team as VP Exploration. The Company also announces the appointment of Geologists Irving J. Prentice and Case Lewis to Black Stallion’s Advisory Board.
On October 7 BLKG announced it has acquired the remaining 50% Working Interest (WI) in the 12,233-acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway. The Company is pleased to confirm it now holds a 100% WI in the prospect.
In June 2014, Black Stallion received a NI 51-101 report from B.L. Whelan, P. Geo. (“the Whelan report”) on the Woodrow Prospect. The author reviewed the available technical data, reports derived from the public domain and information from wells within the leases and currently producing wells in adjacent fields. The report concluded the Woodrow Prospect offers multiple opportunities for possible success in oil and gas production across multiple potential targets at shallow depths, and recommended an exploration program be carried out on the leases to determine the potential hydrocarbon content of the various formations.
BLKG CEO George Drazenovic, commented: “We’re fortunate to have acquired the remaining 50% Working Interest in such a large prospect in a region with this level of potential for domestic energy development and production. We’re also fortunate to have Sproule’s team of experienced geologists, geophysicists, petrophysicists and engineers actively engaged on our work program so we can better determine the Woodrow Prospect’s production potential.”
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Currently trading at an $46 million market valuation BLKG has little assets, no revenues to date and rising short term debt. The stock being liquidated into the campaign are likely the 19,872,000 shares (as adjusted for the 60 for 1 forward split from 2013) acquired for just $49,680 by a group of Investors in September 2012 according to filings. Short term BLKG could be good for another pop, long term the Company lacks fundamentals and will surely collapse from current levels. We will be updating on BLKG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BLKG.
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Disclosure: we hold no position in BLKG either long or short and we have not been compensated for this article.