Oil prices are up big this year, and we are heading into a big travel season, meaning oil investments could continue their run. Here are 4 oil and gas penny stocks in the industry making news worth putting on your watchlist this August:
Allied Energy Corp. (OTCMKTS:AGYP)
Thursday Close Price (8/6/2021): $0.4122
On July 22nd AGYP released financial disclosures detailing the companies Proven, Probable and Possible reserves for their Annie Gilmer and Green Leases. The reports showed a total of $32.75 million in recoverable resources. The company estimated the price of oil at $46.26 in the report. With the price of oil currently well above $70 the reserves calculated at that cost would be closer to $50 million.
Camber Energy Inc. (NYSE:CEI)
Thursday Close Price (8/6/2021): $0.475
On July 14th, Camber Energy announced that it has received a $15 million investment from an institutional investor. These funds are going to be used for working capital and new acquisitions, as well as other corporate purposes. Camber Energy acquires and develops land for oil and natural gas in the United States. Then, the company sells the resulting products, including crude oil, natural gas, and natural gas liquids.
Viking Energy Group, Inc. (OTCMKTS:VKIN)
Thursday Close Price (8/6/2021): $0.402
Viking is a subsidiary of Camber Energy on July 30th the companies announced Camber purchased $11 million worth of common stock of Viking which are to be used for a 60.5% stake in a company engaged in the manufacture and supply of industrial engines, power generation products, services and custom energy solutions. The acquisition target is also working on a patented carbon-capture system for exclusive use in Canada and for a specified number of locations in the United States.
VKIN is an Oil & Gas company with interests in properties in Texas, Louisiana, Mississippi and Kansas. The company targets undervalued assets with realistic appreciation potential.
VAALCO Energy Inc. (NYSE:EGY)
Thursday Close Price (8/6/2021): $2.69
Next week, VAALCO Energy will release their earnings after market August 11, 2021 and host a subsequent conference call to discuss its financial and operational results on Thursday morning, August 12, 2021 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time and 3:00 p.m. London Time.) Zack’s Equity reported that “Wall Street expects a year-over-year increase in earnings on higher revenues when Vaalco Energy (EGY) reports results for the quarter ended June 2021.”