Midwest Oil & Gas Inc (OTCMKTS:MWOG) Is Elite's New Pick

Midwest Oil & Gas Inc (OTCMKTS:MWOG) is the Elite Penny Stock Group's new pick. For those that are not familiar with Elite, they are the most powerful newsletter group on the OTC markets. Their websites include finestpennystocks.com, smartstockchoices.com, smartstockwinners.com, BestAmericanStocks.com, and many others. What made Elite so powerful is that they have a massive database of names and followers. They even have other newsletters following their picks and then trying to pass off Elite picks as their own. Elite will blast their list several times a day trying to get as many buyers into their stocks as possible.Elite has left a trail of victims that only the Wolf of Wall Street can admire. Their last picks have been Broke Out Inc (OTCMKTS:BRKO), Cloudweb Inc (OTCMKTS:CLOW), AgriEuro Corp (OTCMKTS:EURI) and America Resources Exploration (OTCMKTS:AREN). Here's a quick recap. BRKO got halted. EURI, AREN and CLOW all left investors holding the bag.The initial email from Best American Stocks said that they have received $30,000 to publish information on MWOG. The email went on to say:

As you know I have a fantastic track record picking energy companies. My last oil and gas pick in July went from 15 cents to $1.10.I believe that MWOG could be an even bigger winner because it's priced at just pennies.The stock was hit hard when oil prices tumbled to $27 at the beginning of the year and is currently insanely undervalued.The barrel has recovered to over 40 dollars since and analysts are predicting that it'll end the year at $60+ yet MWOG is still trading for just 6 cents.Here is what MWOG is sitting on and why I think that the stock is worth upwards of $1 per share:1. The company's assets were valued at $1 billion before oil prices retraced.. This includes its oil and gas reserves in Kansas.2. The company currently owns 3 leases , Springer, Bell and Brimer which are 302 acres, 81 acres and 177 acres respectively in Montgomery County.3. These leases already have 30 wells on them, and the wells have produced high quantities of oil. This is a proven property.4. New wells in the immediate area have produced as much as 3,000 barrels per day in initial production.5. Oil prices are recovering very quickly but MWOG's share price still hasn't done so. Investors have not been watching the stock and are missing out on buying shares at the current cheap prices.The Mississipi Lime formation on which MWOG's leases are located are estimated to hold billions of barrels of oil. While MWOG's leases hold over 6 million barrels at bare minimum.If you've been wondering how you can position yourself to benefit from the continued rise in the price of oil, think no more because I believe that MWOG would put you exactly where you want to be.MWOG is trading at just 6 cents as I write this. I expect the stock to break 12 cents today and continue to 0.50 by the end of next week.

Currently trading with a market cap of $38 million, the latest SEC filings show no revenues, zero cash, $3.6 million in total assets, and $4.1 million in total liabilities. There have been no press releases on the company, so no one really knows what is going on with the company. The only ones that know what's going on are Elite and judging by their track record, they only have their interests at heart. We urge investors to be cautious in trading MWOG. Don't be left holding the bag! We will be updating Insider Financial as soon as we know more. For continuing coverage on MWOG, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in MWOG and have not been compensated for this article.