Acquiring Virgin EnergyUp to now PXTE has been a small oil and gas company that holds interests in several producing oil wells in Texas.
This week they signed an agreement to acquire a new property, Virgin Energy, with proven reserves of 6.4 million barrels of oil.
With oil at over $100 dollars a barrel, this property holds potential of over 600 million dollars. Not bad for a company with a present market value of 6 million dollars.
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