Oil climbs more than $1 as US reaches debt agreement
From: Riggs Eckelberry
Los Angeles, August 1, 2011
Debt crisis averted: oil climbs
Late yesterday, Congressional leaders reached an agreement on the U.S. debt — and oil immediately climbed more than a dollar a barrel. (Reuters)
It’s tough: good financial news only seems to push oil prices higher.
Now… what would happen if anyone, anywhere, could make fuel and chemicals at an affordable price — and without huge environmental penalties?
Reverse split — the countdown
We expect our 1-for-30 reverse stock split to take effect this week.
At that point, a “D” will be added to our stock symbol. So, for a short time, we will trade as “OOILD”. After 30 days, the symbol will revert back to OOIL.
Many institutions can’t invest in stocks traded in pennies. Our new stock price will help solve that issue, and should expand our trading market.
This is not the uplisting!
This doesn’t mean that we will be on a senior U.S. exchange this week! This reverse is only the first step of a multi-month process — much of it behind the scenes.
In the meantime, most of our news will be of a commercial and technical nature… as it should be.
Meanwhile, we greatly appreciate your strong votes of support over the past ten days, since we announced our move.
Have a great week!
Riggs and team
President & CEO
OriginOil, Inc. (OOIL)
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