New York, NY – (NISMAGAZINE) –10/22/2013- 1st NRG Corp. (OTCMKTS:FNRC) shot up 33.33% to close at $0.0040 after trading 83.66M shares. This was humongous volume compared to the stock’s daily average of just 1.21M shares. The stock headed for the moon after the announcement that the company intends to begin drilling at its coal bed methane (CBM) properties in Wyoming. It has initiated a plan of development encompassing the drilling and completion of eight federally permitted locations in Wyoming’s Powder River Basin. FNRC holds 100% of the working interest of these locations before payout, and 66% after payout. Permits from the State of Wyoming are currently being prepared for State approval. 1st NRG is an exploration and production company engaged in the development of CBM reserves. On the daily chart the stock has formed a saucer bottom after March and broken above its lip in the last few trading sessions. Yesterday it penetrated the 200-day moving average on high volume. However latest financial data of the company is not available.
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FIRST TITAN CORP (OTCBB:FTTN) zoomed 26.56% to $1.62 after trading 1.04M shares. The stock was propelled higher by the company’s bullish press release that stated it was considering the billions to be made in recovery of flared gas reserves. It said it is currently negotiating with BioFuels Power Corp., an industry-accomplished company that possesses the technology to increase the financial returns of FTTN’s natural gas resource holdings and acquisition targets, and that FTTN and its partners are evaluating an investment in technology to convert natural gas, currently being flared, into a diesel-like fuel that is far more valuable in today’s marketplace. For the quarter ended June 30, 2013, FTTN reported revenue of $3K and a net loss of $178K. On the daily chart the stock made a shooting star pattern yesterday on high volume – showing that bears emerged at higher levels ($2.40) to beat down prices.
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