XUN Energy, Inc. XNRG
We are looking at XNRG this morning as a potential bottom play, that set off our scanners with some abnormally large volume on Wednesday. Granted the fact that volume often precedes price, we like the upside potential of this play. As you can see from the chart below, this stock has been known to make quick spikes from its current level (.008’s) to as much as .015 and higher. Between January and February this year, it surged from .005-.024, gaining 380%, as we point out below.
We’ll be putting this stock on watch, monitoring the MACD and Slow STO indicators for potential crosses which may signal the next run for XNRG.
Yesterday, the company announced a reserve equity financing agreement that will allow it to pursue its drilling program. In a nutshell, reserve equity financing allows a company the right, but not the obligation, to sell shares in traunches over a defined commitment period, permitting the raising of capital by selling those shares as needed, or when market conditions are favorable:
PORTLAND, OR, May 08, 2013 (Marketwired via COMTEX) — Xun Energy, Inc. (OTCBB: XNRG) (XNRG) announced that the Company has agreed to a $15,000,000 Reserve Equity Financing Facility from AGS Capital Group, LLC, a US based specialist investor group, in order to enable growth with financing for its 30 shallow oil well program with an option for an additional 15 shallow oil well development program in Venango County, Pennsylvania.
More Info: www.xunenergy.com
PLUG, FNMA, GRPN