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Black Stallion Oil & Gas (OTCQB: BLKG) Continues to Drop Like an Anvil on Pressure

Black Stallion Oil & Gas (OTCQB: BLKG) Continues to Drop Like an Anvil on Pressure
Written by
Joel Najarian
Published on
October 1, 2015
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Black Stallion Oil and Gas, Inc (OTCQB: BLKG). BLKG is in the midst of a slow and steady collapse. At the beginning fo the month this one was trading close to $2.00 and today broke lows of .90. BLKG commenced trading back in mid June at $.80 and went on to make a big 200% run to $2.39 before losing 2/3 of its value in just a few sessions back in August.

In September of 2013 we saw a name change from Secure It, Corp and 60 for 1 forward stock split. Since then BLKG has been groomed for a "Class A" stock promotion that has included non of the usual suspects. There is a landing page at wallstreetreport.org with a $10000 disclosed budget from Pansino Investment Ltd.

Black Stallion Oil and Gas, Inc (OTCQB: BLKG) represents itself as a Los Angeles, CA based energy exploration company with a focus on developing America’s abundant shale oil and gas resources. BLKG is currently focused on the emerging Alberta Basin Bakken in norhwest Montana, which lies due west of, and shares characteristics with, the prolific Williston Basin’s estimated 6.7 trillion cubic feet of recoverable natural gas and 7.5 billion barrels of recoverable oil.* Black Stallion has secured the right to acquire 50% ownership in the large 12,233-acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway.

The company put out their quarterly report on August 19th. BLKG hasn't produced any revenues since it's inception. They have $239 in cash, which is currently less than I have in my wallet right now. They only have $7 thousand in total company assets and $20 thousand in total liabilities. Right now BLKG is running a $34 thousand in quarterly net loss.

We have a Monster Pick Coming. Subscribe Right Now!Currently trading at an $44 million market valuation, BLKG has little assets, no revenues to date and rising short term debt. The stock made enormous percentage gains for penny stock investors to a high of $2.39 before a big collapse. Currently BLKG is breaking down and has just seen two "green" sessions over the past month. Someone likely has their hands on the majority of the 19,872,000 shares (as adjusted for the 60 for 1 forward split from 2013) acquired for just $49,680 by a group of Investors in September 2012 according to filings. We could see a short term bounce at some point but unfortunately we don't have a crystal ball to tell you when.We will be updating on BLKG when more details emerge. Make sure you are subscribed to Insider Financial so you know the latest details regarding BLKG.

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