Is Mitra Energy Inc’s Fuel For Real? The Stock Just Increased Again

 Is Mitra Energy Inc's Fuel For Real? The Stock Just Increased Again

The stock of Mitra Energy Inc (CVE:MTE) is a huge mover today! About 42,000 shares traded hands. Mitra Energy Inc (CVE:MTE) has risen 6.00% since September 18, 2016 and is uptrending. It has outperformed by 0.52% the S&P500.
The move comes after 8 months positive chart setup for the $41.80M company. It was reported on Oct, 18 by Barchart.com. We have $1.43 PT which if reached, will make CVE:MTE worth $75.66 million more.

More notable recent Mitra Energy Inc (CVE:MTE) news were published by: Marketwired.com which released: “Mitra Energy Inc. Closes RTO Transaction” on April 22, 2015, also Marketwired.com with their article: “Mitra Energy Inc. Provides Update on Contingent and Prospective Resources” published on April 07, 2016, Marketwired.com published: “Mitra Energy Closes Private Placement” on July 05, 2016. More interesting news about Mitra Energy Inc (CVE:MTE) were released by: Marketwired.com and their article: “Livermore Partners LLC and Its Affiliate Acquire Common Shares of Mitra Energy …” published on May 02, 2016 as well as Marketwired.com‘s news article titled: “Petra Petroleum Inc. Announces Definitive Agreement With Mitra Energy Limited” with publication date: October 24, 2014.

Mitra Energy Inc., formerly Petra Petroleum Inc., is an gas and oil company. The company has a market cap of $41.80 million. It is engaged in exploration, appraisal and pre-development activities in South East Asia , with over 10 exploration and pre-development assets. It currently has negative earnings. The Company’s portfolio comprises approximately 12.8 million acres of acreage and consists of over two service contracts (SCs) in the Philippines (SC-56 and SC-57), approximately five production sharing contracts (PSCs) in Vietnam (Block 51, Block 46-07 and Block 45, Block 127 and Block MVHN/12KS) and over three PSCs in Indonesia (Bone, Sibaru and Titan blocks).

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