Shares of American Liberty Petroleum Corp. (OTC:OREO
, OREO message board
) edged up 3.65% in the latest trading session after the explorer of oil and natural gas properties announced it had expanded its management team by hiring a new Vice President with broad experience in the industry. A $30-thousand promotional campaign
also contributed thereto.
Closing at $1.42, OREO went up $0.05, or 3.65%, its sixth rise in a row.
Thus, OREO set up a new six-month record in terms of market value. A total of 324,532 shares of common OREO stock changed hands, or 4.5 times higher than the average daily trading volume.
Yesterday, the company presented Vincent Ramirez as the new Vice President of Operations.
Established in 2008, OREO is primarily focused on acquiring, drilling and developing oil and natural gas properties nationwide. As of now, however, OREO does not appear to possess any high-potential assets.
OREO's financial records for the last four quarters firmly indicate that in spite of maintaining a fairly stable current ratio of 13.4, the company has not generated a single cent in revenue. Needless to say, OREO closed the fiscal year ended Oct. 31, 2011 with a net loss of $415 thousand, up 14% as compared to the loss incurred in the preceding fiscal year.
While OREO's fundamentals do not seem good enough to attract traders' attention, the newest paid promotion in support of OREO stock will certainly do so. Worth $15 thousand, the promotional mail in question reached our database yesterday evening.