Orion Diversified Holding Company (OTCMKTS:OODH) Stock Moves Up Again: Soars 40% in a Week
Orion Diversified Holding Company (OTCMKTS:OODH) stock continued to trade higher on Wednesday after proving key updates. The stock has soared over 40% in the past week
Market Action
In Wednesday’s trading session, OODH stock ended higher by 4.63% at $0.0407. More than 284K shares have exchanged hands, compared to its average volume of 489k shares. The stock opened at $0.0389 and moved in a range of $0.0378 – 0.0450.
Orion Diversified Holding Co Inc. Announces Pink Current Information Status with OTC Markets, Creation of a New Subsidiary, LOI for a Producing Oil and Gas Property in the Permian Basin
Orion Diversified announced that it has updated and filed all of the necessary paperwork and disclosure filings with the OTC Markets in order to achieve Pink Current Information status.
The Company has also created a new wholly owned subsidiary, Orion Energen Inc.
Orion Energen, a Texas Corporation, will be responsible for acquiring and maintaining producing oil and gas properties in the Permian Basin of West Texas. Orion Energen has signed a Letter of Intent to acquire four producing oil and gas wells in Pecos County Texas currently averaging 14 BOEPD on 160 acres. Orion Energen is currently performing due diligence on this property while waiting on permits and licenses to operate oil wells from the Railroad Commission of Texas.
Thomas Lull is a oil and gas industry veteran, and has been involved in every aspect of the oil and gas industry for the past 20 years. Between 2009 and 2019 Mr. Lull owned and sold 43 oil wells averaging 120 BOEPD in the Permian Basin of West Texas.
Key Quote:
“Orion Energen is currently negotiating on four more producing oil and gas properties in the Permian Basin of West Texas,” comments Mr. Lull. “My goal is for OODH to consistently grow by acquiring producing oil and gas properties that have infill development drilling potential,” further commented Mr. Lull.
Trader Notes:
OODH stock has outperformed recently with a jump of over 295% in the past 6-month. On the technical basis, the stock is trading above its 200-Day SMA stand at $0.0415. Moreover, RSI at 54 signals that the stock is trading near the neutral zone.
