Martin Tsvetkov

'Newsless' Explortex Energy, Inc. (PINK:EXPX) Gets Involved in a Pump-and-Dump Game

by Martin Tsvetkov March 1, 2012
9EXPX_chart.gifFor the last twelve months or so, Explortex Energy, Inc. (PINK:EXPX) has been following a closed-door policy to its supporters, both in terms of news and financials. Nevertheless, a paid promotion in support of EXPX stock has just been launched.

Shortly after the latest session had come to a close, a new promotional email worth $25 thousand started invading traders' mailboxes, highlighting EXPX's recent chart run. Yesterday, EXPX gained 18% in value, closing at $0.059 per share. Approximately 73 thousand shares of common EXPX stock changed hands, i.e down 23% as compared to the daily average trading volume.

Since the advertising effort is based on no corporate news whatsoever, it is most likely to transform into a classic pump-and-dump game between risk lovers.

5EXPX_logo.pngIndeed, the last time EXPX issued an official press release was almost a year ago, i. e March 2011. As far as EXPX's financial record is concerned, its most current report only covers the quarter ended Jul. 31, 2009. In the light thereof, the company's managers will sooner or later have to come up with a proper explanation of the prolonged informational eclipse.

For what it's worth, Explortex Energy, Inc. is an exploration-stage company focused on drilling for oil and gas resources nationwide. For this purpose, EXPX has collaborated with Star of Texas Energy Services, Inc., the latter being the drilling operator. At present, the company has a 1% working interest in a natural gas well.

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