Signature Exploration and Production Corp. gushed to a new 52-week high today. The stock traded as high as $1.95 a share earlier today and closed today’s trading at $1.53, up $0.49 or 47.12%. The company was highlighted in the QualityStocks Newsletter very recently – January 6, 2010 – at a price of $0.75. The stock has more than doubled in just three trading days!
Signature Exploration & Production is an independent energy firm involved with on-shore oil and gas properties in conventional producing areas along the Gulf coast of Texas. The company today provided some details about its Koliba Prospect. The company’s new well will be drilled to a depth of about 6,800 feet to test three ‘Frio Sand’ zones. It is believed that Frio geological wells usually enjoy lower exploration costs and higher success ratios. The new well will be drilled only 250 feet away from another well that was productive in all three ‘Frio Sand’ zones.
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