POLR Penny Stock Promotion hits the OTCBB!
Polar Petroleum Corp. (OTC: POLR) has been upward bounce since it started trading on the OTCBB earlier this year; the recent acceleration in volume and move over $2 marks the beginning of the promotion in earnest.
The stock is being promoted by Ken Williams Hard Asset Report with a documented $250,000 promotional budget. The newsletter touts "a three-way bidding war between Exxon, BP, and ConocoPhillips could soon be brewing which may be about to send POLR shares ballistic"
According to a recent press release POLR is an independent American oil and gas company based in Anchorage, AK. The Company is focused on securing domestic energy solutions through the exploration, development and production of oil and natural gas in Alaska's proven North Slope region: home to the 2 largest oil fields in North America, over 10 other producing fields, and established infrastructure.
Polar Petroleum Franklin Bluffs Project overlies the 3 source rocks thought to represent potential unconventional shale oil on the North Slope. Test drilling in the vicinity has met expectations for finding oil in the source rocks.* The Company's Hemi Springs Project is positioned within 1 of 18 Beaufortian accumulations in Alaska that together represent EUR of 5 billion barrels of oil and 12 trillion cubic feet of gas
On April 29, POLR announced the preliminary conclusions of a new Geological Study on the Company's Hemi Springs Project and surrounding Alaskan North Slope region. According to the Study, the Hemi Springs Project acreage could represent total recoverable petroleum reserves of approximately 558 million barrels of oil (MMBO).
Conclusion: POLR stock has been rising on little volume due to the promotional efforts of the Hard Asset Report and the online landing page. These pages are sometimes a precursor to hard mailer campaigns to keep in mind POLR promo may be in the early stages here. Currently trading at a market valuation just under $100 million the Company has little fundamentals to back up this kind of valuation and will drop significantly once the promotion is over.
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