Paradigm Oil and Gas, Inc. (OTC:PDGO)
has been on a stand-by position for a couple of days. The stock price has stuck at
$0.36 per share, while its traded volume hasn't changed a lot. Though, it looks like there is a chance things to change any minute.
Apparently, Paradigm Oil and Gas decided to pump up its stock price and switched on the promotional mode at last. Yesterday, PDGO was promoted twice by stocktwiter.com, calling the stock the "new jackpot pick" on the market and now traders should wait for the results. The campaign cost $40.000 to New Market Enterprises LLC, who stood behind the promotions. However, no one can say if they will influence PDGO stock price or not.
Anyways, it turns out it is not only the promotions Paradigm Oil relies on. Over the past week, the company has released a bunch of positive news on its business to support its stock price. The latest news came up during the past few days, reporting a new work program under the company's oil production agreement and a second joint venture agreement for utilizing transportable oil recovery platform. This news might have certainly provoked traders' attention, though PDGO stock price hasn't changed yet.
Paradigm Oil & Gas Inc. identifies and acquires energy properties with previously discovered known oil and gas reserves that have not either been fully produced from, or fully developed and defined. Last October, the stock traded over 50% higher than at present, though the current trading range of PDGO is between $0.34 - $0.38 per share.
On March 29 Paradigm Oil filed a notification of late filing for its annual report, while its quarterly report doesn't look much satisfying. PDGO had no revenues from the sale of oil and gas in the period ended September 30, 2010 and its net loss totaled over $2 million, or $0.05 per share. Moreover, the company's accumulated deficit during the exploration stage period has exceeded $2 million, which can hardly be recovered considering the fact that Paradigm has been existing on loans and common stock dividends.
In this case, while waiting for the company's annual report investors should keep their eyes wide-open for the future operations of Paradigm Oil and Gas, Inc.