Penny Stock News: UnionTown Energy (UTOG) Announces Purchase of 24000-Acre Talisman Darby …

Listed in Penny Stocks, Stock Picks,, Day Trading, Best Stocks

BILLINGS, MT–(Marketwire – Apr 26, 2011) – UnionTown Energy Inc. (OTCBB: UTOG) is pleased to announce that the Company’s offer to purchase the 24,000 acre oil and gas property, formerly owned by Fortuna (US) L.P. (now operating under Talisman Energy USA Inc.), was accepted yesterday.

The property, known as the Darby Block Prospect, is secured with a non-refundable $1,000,000 US deposit, which will be advanced over the next 5 days by the Company against the purchase.

A geologist report obtained from an independent third-party engineering firm has identified two primary prospects covering 5,000 acres within the 24,000 acre property (the “Report”). The combined potential recoverable reserve for both prospects has been estimated at 80 million barrels of oil and 716 billion cubic feet of natural gas, or 120 million Barrels of Oil Equivalent (BOE).

Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.

The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.

Article source: