Centor Energy, Inc. (OTCMKTS:CNTO) Makes Sharper Reversal
Centor Energy, Inc. (OTCMKTS:CNTO) tries to keep its head above water with a new press release, but Friday turned into a day of reckoning, tripping the fast rising trend. CNTO slid down more than 17% to $1.92, on selling volumes of $2.9 million. CNTO is yet another bid from the oil and energy sector, claiming to make it big soon. 
The latest press release introduces C. W. Chapman as an addition to the company’s Advisory Board. Also, CNTO presented its new corporate website, presenting the oil shale leases that may be worked in the near future. So far, CNTO has not been mentioned in a new promotional email, and Friday’s slide may be due to the fact that the promotional efforts are becoming stale, losing the fresh inflow of investors. The promotion stopped for now, despite the relatively high budget of $500,000. 
Strangely, CNTO has shown very little real assets, so it is a wonder how the company managed to buy the billion-barrel oil shale leases in Saskatchewan. In fact, the only news concerning the shale properties come as an announcement for a purchase agreement- and not an outright purchase. Otherwise, the shale fields should have been active since March 2013, but have had little effect on the bottom line of CNTO. So mark the careful wording, and one may realize that CNTO is not so well-padded with oil resources. The financial statements are just as discouraging:
- cash: $4,530
- current assets: $17 thousand
- current liabilities: $439 thousand
- quarterly net loss: $166 thousand
- accumulated deficit: $429 thousand
We just need to look at the ever-deepening fall of Formcap Corp. (OTCMKTS:FRMC) to see a probable scenario for CNTO. This is one of the stocks where investors’ forums show an awareness that the ticker is propped by pumpers, yet ride the upward momentum as far as possible. For FRMC, the fall was from a respectable price near $2 to only nine cents.
In the case of CNTO, buying may resume in the new week, but the high climbs and optimism are mostly in the past. In the case of another emailed promotion, CNTO may see a revival. But it is still best to think twice before jumping into a ticker propped by mineral right ownership.
Other tickers in the sector such as Trio Resources, Inc. (OTCBB:TRII) are also doing badly, shedding 50% of the price to 17 cents, as the activities from the end of last year lost steam in January.
