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Micro-Cap in Focus; American Liberty Petroleum Corp. (OREO)

Shares of American Liberty Petroleum Corp. (OTC: OREO), an independent oil and gas company engaged in the acquisition, drilling and production of oil and natural gas properties and prospects, are down sharply today.

OREO shares fell to an intra-day low of $1.05. At last check, the stock was down 13.01% to $1.07 on volume of 402,198.

OREO shares are coming under pressure despite some recent positive development. OREO recently announced that Foreland Refining Corporation, operator of the Eagle Springs Refinery in Ely, Nevada, signed an agreement to purchase all of the company’s crude oil production from the Gabbs Valley oil field in Nye County, Nevada.

The agreement was signed between Foreland and Independence Drilling LLC, which is the designated operator for a joint venture between American Liberty Petroleum, Cortez Exploration LLC and Desert Discoveries LLC.

Alvaro Vollmers, President of American Liberty Petroleum, said that OREO’s next step is to maximize on the production potential of the Paradise 2012 well while further exploring other opportunities in the area.


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