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***NTRO Moving Up on Higher Volume



 
 
 LevelStock.com Evening Newsletter May 18th 2010

 
Nitro Petroleum, Inc. OTC: NTRO
 
 
 
Hello Traders,
 
NTRO today closes up another 5% and breaks the .018 resistance on higher volume today.   
 
*** Take notice the channel NTRO has been trading in.
*** A break at .02 would be considered another BULLISH move.
*** The RSI is trading at 64.32

 

***NTRO's upward curve in the chart speaks for itself!

***NTRO is an energy company engaged in the acquisition and development of oil and natural gas properties in the United States and Canada.

***NTRO's objective is to seek out opportunities in the energy sector that represent low risk opportunities with significant upside, both independently and with joint venture partners.

*** NTRO reported an engineering update on the first two wells in regard to the current enhancement program.
 

This work should result in a significant increase of daily production rates. In addition, NTRO's engineering department advises that the Viola Limestone is behind pipe in the Quinlan #3 well which should be re-equipped and put online within the next thirty days for new production.

NTRO is actively seeking further Oil & Gas opportunities and is in negotiations on several projects subject to due diligence.

Furthermore, the Ward-McNeil well located in Section 27, T3N, R1W, Garvin County, Oklahoma is now ready for a fracture treatment. NTRO is the Operator on this project and their Geologist has identified a potential pay zone in the Viola Limestone formation.

Previously, the well had been perforated and produced oil in the Lower Layton Sand sequence and the Viola Detrital. The well lies just on the north side of a North-Southwest trending fault with occasional closed anticlines lying on the north boundary of the fault which is the same scenario for the Ward-McNeil # 1 well. NTRO believes that this well is located in the same favorable position as the Ward-McNeil # 1 as this well had substantial production from Viola Limestone just to the North West. Services are now being scheduled and should be completed within approximately 30 days. 

** Oklahoma is one of the major oil-producing States in the Country, with an annual production typically accounting for more than 3% of total U.S. production in recent years. Crude oil wells and pipeline systems are concentrated in Central Oklahoma, although drilling activity takes place in the panhandle.

 

One of the 100 largest oil fields in the United States is found in Oklahoma. The city of Cushing, in Central Oklahoma, is a major Crude oil trading hub that connects Gulf Coast producers to Midwest refining markets. 

There is still time to include NTRO to your watch list!! NTRO's trading levels could change in no time and you don't want to be out of the action!!

So, keep a close eye on NTRO from now on!! 

More about NTRO at www.nitropetroleuminc.com. 


 NTRO is on LevelStock.com's RADAR! Do your homework, and like always BE READY for the Action!!!

 
 
 
Stay Tuned !

LevelStock.com

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