Holiday Island Holdings Inc. (OTC:HIHI) Stock Surges 41%: What’s the Buzz?

The energy sector has always been the cynosure of the eyes of a large number of investors over the years, and for good reason too, given the returns that have been generated. A company from the sector that could be worth tracking at this point is the secondary oil and gas recovery industry operator Holiday Island Holdings Inc. (OTC:HIHI). The company was in the news on Monday after it announced that it had decided to change its name to EP3, or Enhanced Petroleum Extraction Enterprises Inc.

The company noted that the new name would better reflect its new focus on the oil and gas industry. In the press release, Holiday Island Holdings also revealed that it had made an addition to its executive staff in the form of Glenn Klinker as the Chief Operating Officer. He would be responsible for the oil and gas operations at the company. Additionally, the company also revealed that it had engaged the services of a well-known advisor, who would be responsible for overseeing the capital raises and regulatory compliance.

The company had also been in focus on January 3 when it announced that it had decided to cancel its merger agreement with XA Interactive Inc. Instead, Holiday Island Holdings noted that it would emerge with new executives with experience in the oil and gas industry, which would help it follow up on oil and gas opportunities aggressively.

The company also noted that it hoped that it would also turn into a major income generator. The company announced at the time that it had decided to cancel the merger since a number of major omissions had been unearthed during the course of the due diligence process. The company also announced that it had attracted interest from a number of sources with regards to raising development and acquisition funds.