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Empire Petroleum Corp EP

Empire Petroleum Corporation is an independent energy company that is engaged in optimizing developed production. The Company operates through its subsidiaries, including Empire New Mexico LLC, doing business as Green Tree New Mexico, Empire North Dakota LLC, Empire Texas LLC, and Empire Louisiana LLC. It is an independent operator in four geographic areas of the United States. It manages and influences production on operated properties. Empire New Mexico's assets primarily produce oil, with natural gas and natural gas liquids (NGLs) accompanying oil production. Empire New Mexico assets are located in Lea County, New Mexico, and consist of a contiguous and consolidated acreage position consisting of 48,000 acres held by production from approximately 670 wells. Empire North Dakota operates approximately 138 injection wells in North Dakota and western Montana. Empire Texas owns over 121 gross wells and approximately 30,000 net acres in the East Texas Basin.


NYSEAM:EP - Post by User

Post by KingOfSpadeson May 13, 2022 8:28am
108 Views
Post# 34680760

EP trades like a microcap pump-n-dump

EP trades like a microcap pump-n-dumpEP closed at 24.7 on 6th May (last Friday)

EP reached a low on 9th May (this past Monday) of 18.08 (down 27%!) before closing at 19.46 (down over 21%) 

Yes the S&P was down 3% from 6th to 9th but astonishingly this massive drop in EP occured with NO INCREASE IN DAILY VOLUME above the mediocre 60k-share average daily volume of late

This is not remotely how a $400m+ market cap stock just uplisted to the NYSE should trade. This is not an investable characteristic for a company like this. It shows something is very very wrong with the liquidity and share structure of this company - that when a real owner (there must be some) takes just a few small chips off the table the whole thing lurches to one side. Consistent with what we have been saying for a long time - this is a charade with shares being rotated amongst a coordinated group of friends/family/colleagues controlled by the Mulaceks


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