1st NRG Corp. (PINK: FNRC) Penny Stock on Fire!

FNRC explodes on the OTCBB!

Update: FNRC made an explosive move up last year to highs over $0.50 where the stock traded massive volume on the back of aggressive stock promotion. Since then the stock has continued to drop and currently trades well below a penny. Bottom bounce players are waiting for a sign that momentum has reversed.

1st NRG Corp. (PINK: FNRC) moved to a high of $0.58 at the end of September and failed to take out the $0.56 on the alerts from several online newsletters. Since then the stock has been weak barely holding on to $0.40 here. Investors who bought in on the alert are wondering if the stock can regain its previous highs.

According to a recent pr 1st NRG Corp. is an exploration and production company headquartered in Denver, Colorado. The Company currently holds natural gas (CBM) assets in the Powder River Basin of Wyoming. They own working interests in producing and prospective CBM wells in the Clabaugh Ranch Field, a development of 6,025 gross acres in the Powder River Basin in northeast Wyoming. The Powder River Basin is a major source of coal bed methane – clean natural gas. They are expanding our activities into unconventional shale potential which includes 1,370 acres in the Niobrara Shale in Western Nebraska and 7,150 acres the Utica Shale in Eastern Ohio. 

On October 31 1st NRG Corp announced that they have executed a $7,000,000 financing facility. The facility will allow the Company to draw in one or multiple tranches as agreed to between the lender and the Company. The Note will mature in three years and will bear interest at 8%. Any outstanding amounts due under the Note may be converted at maturity into the Company's common stock at the average of the lowest bid for the ten days prior to conversion.

Mr. Kevin Norris, CEO, said, "This facility should enable the Company to initiate development on its core properties in the Powder River Basin, the Utica Shale in Ohio and the Niobrara Shale in Nebraska."

Conclusion: Currently trading at a market valuation of just under $10 million FNRC is a shell that has been around for years under a number of different incarnations. As usual the company is short on any substance or fundamentals and long on hype. Currently being promoted by newsletters these types of stocks do not usually do so well over the longer term.

To find out the inside scoop on FNRC subscribe to OTCMagic.com right now. Also everyone should know, we have something HUGE coming!

 

1st NRG Corp.
Kevin Norris
Ed Renyk
1stnrg-corp.com
 
STOCK INFORMATION
SYMBOL: PINK: FNRC
Shares Outstanding 23,245,970
Market Cap: $9,065,928
 
1st NRG Corp. (PINK: FNRC) was formed under the laws of the State of Delaware on January 8, 1988 and was inactive until 1995 when it entered into an agreement to acquire certain mineral properties. The operation of the mineral properties was unsuccessful.
 
In 2006 the Company pursued opportunities in “Specialty Fuel” and embarked on a path to leverage itself into favorable partnerships in the oil and gas space.    Further, to reflect this change of direction, the Company changed its name to 1 st NRG Corp.
 
Utica Shale – Eastern Ohio
Previously announced, the Company is finalizing agreements to develop approximately 7,150 acres in Eastern Ohio, one of the most active areas for oil, natural gas and natural gas liquids exploration in the United States. Recently the Ohio Department of Natural Resources released estimates of the possible Utica-Point Pleasant recoverable reserve potential in Ohio to be between 3.75 to 15.7 trillion cubic feet of natural gas and 1.3 to 5.5 billion barrels of oil. Recently the USGS released its first estimates of the reserve potential of the Utica Shale to be about 38 trillion cubic feet of undiscovered, recoverable natural gas, 940 million barrels of oil and 9 million barrels of natural gas liquids. The USGS estimates included part of Maryland, New York, Ohio, Pennsylvania, Virginia, and West Virginia
 
Niobrara Shale – Western Nebraska
The Company also has entered into an agreement which will deliver an Oil and Gas Lease and surface use agreement for 1,370 acres located in Banner County Nebraska. We expect the area to have possibilities to develop the Niobrara Shale which is being compared to the Bakken Shale in North Dakota. Located in the Denver Julesburg Basin which extends from Southeast Wyoming and Southwest Nebraska into Northeast Colorado, the acreage will provide the company with possible oil, natural gas and natural gas liquids development in the Niobrara Shale, as well as the Codell, Greenhorn, D and J Sands. Industry estimates of the possible Niobrara Original Oil in Place (OOIP) are 30 million BOE per section, however recoverable oil, natural gas and natural gas liquids will vary by area, thickness, porosity and fracture systems.
 

3 Responses to 1st NRG Corp. (PINK: FNRC) Penny Stock on Fire!

  1. Jin Akashi says:

    Vippennystocksite dotcom, is a ideal place to master the trends of FNRC stock

  2. Tony Brian says:

    Is your site a Scam site or what? FNRC is now just $0.02 since you pumped it at $0.50. LOL! Luckily, didn't listen to you.

  3. OTCMAGIC STAFF says:

    You idiot did not even bother to read the article did you? look at the conclusion:

    "Conclusion: Currently trading at a market valuation of just under $10 million FNRC is a shell that has been around for years under a number of different incarnations. As usual the company is short on any substance or fundamentals and long on hype. Currently being promoted by newsletters these types of stocks do not usually do so well over the longer term.

    I have been warning people about this stock from the beginning and $0.02 is exactly where I predicted it was going. You are the moron here.

     

Trade U.S. Stocks with

Scottrade TD Ameritrade E*Trade Securities ShareBuilder Charles Schwab