Jayhawk Energy Inc. hit another 52-week high earlier today, reaching a price of $2.13 a share. The stock closed trading at $2.12, up $0.28 a share or 15.57% for the day. The solid move up in price has been accompanied by an increase in volume to about 3.1 million shares, well above the average daily volume of approximately 715,000 shares. Jayhawk Energy was highlighted in the October 22, 2009 edition of the QualityStocks FREE Daily Newsletter. At the time, shares were trading for only $0.28 a share – investors have seen their investment multiply by nearly eight times since that date!
Jayhawk Energy is a domestic oil and gas exploration and development company. Jayhawk’s activities are focused on two major projects – 45,000 acres in the Cherokee Basin, Kansas and 17,000 acres in the Williston Basin, North Dakota. Shares are being buoyed by the recent announcement from the company that it has closed on two of the four tranches of Jayhawk’s $1.5 million debenture financing from institutional investors. Proceeds will be used to begin drilling wells in its North Dakota property.
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