Bison Petroleum Corp. (OTCMKTS:BISN) Pump Clocks In
After bursting into the spotlight after two full weeks of zero daily share volumes, Bison Petroleum Corp. (OTCMKTS:BISN) got a proper pump as well. The first touts arrived yesterday, shortly before the markets opened.
We examined the ticker in another article and mentioned a previous promotional email that traders on discussion boards reported receiving. Now a very similarly worded email tout landed in our database as well. The party who sent out the email seems to be one of several, as we received the email from The Stock Junction but there are reports that the same material is circulated by other entities as well.
The pump in question lists just $6,500 paid to Stock Junction but that’s just the chump change for dissemination received by one sender. The whole promotional campaign is running on a budget of $500,000 according to the disclaimer, paid by Chennai Media Ltd. The disclaimer states that this sum covers costs related to ‘printing’ as well as dissemination, so a paper mailer may be in circulation as well.
The pump reiterates the same baseless claims that Marathon Oil, a NYSE-listed enterprise with a market cap of over $24 billion, may acquire BISN. This speculation is based on the fact that BISN has leases in Wyoming, the state which is the biggest production site for Marathon. The promo quotes previous billion-dollar acquisitions, including Exxon acquiring Celtic Exploration. What it fails to mention is that when it was acquired, Celtic was already producing 22,000 barrels per day.
The situation with BISN is quite different, as their plans for 2014 include conducting seismis studies, which is not exactly production stage. The company’s latest quarterly lists the following:
- $30 thousand in cash, comprising total assets
- ZERO revenues since inception
- $339 thousand in quarterly net loss
Pairing the complete lack of trading over the better part of the last two months with the $500 thousand pump job and potential paper mailer, BISN is taking on a rather risky air and traders are advised to be extra careful, because when pump jobs go south, they do it in a big way.
One recent example would be Pacific Clean Water Technologies, Inc. (OTCMKTS:PCWT), the last Awesome Penny Stocks pump before the promoters officially announced their retirement. APS managed to lift PCWT to $0.27 before the pump caved in and the ticker tanked 80% in two sessions. Then came the SEC suspension and once that lifted, PCWT resumed trading at under half a cent per share.
