HomeStock GesturesWhat Led The DBRM Stock To Increase More Than 60%?

What Led The DBRM Stock To Increase More Than 60%?

Daybreak Oil & Gas Inc (OTCPk:DBRM) closed Thursday session at $0.0530, up 60.61 percent, and has been trading between $0.0451 and $0.0950 during the day. In the last month, DBRM stock jumped 130.43%, with average volume exceeding 445.83K shares.


Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .

Sponsored


A three-month performance analysis shows that DBRM gained over 76.67% while the average volume for the stock was 274.39K. DBRM stock has experienced a 362.18% gain in the last 12 months, reaching a high of $0.1599 with a market cap of $3.20M. Following the acquisition, DBRM stock skyrocketed.

DBRM has acquired what?

A crude oil and natural gas exploration, development and production company based in the United States, Daybreak Oil and Gas specializes in crude oil and natural gas exploration, development and production onshore. Spokane Valley, Washington is home to DBRM’s headquarters, while its operations office is in Friendswood, Texas. With 20,000 acres in a 32 square mile area under 3D seismic survey, DBRM owns approximately 6,500 acres in the San Joaquin Valley of California. The East Slopes project area in Kern County, California is home to 20 oil wells operated by DBRM.

It was announced that Daybreak had agreed to acquire Reabold California, LLC (“Reabold California”). Rebold Resources plc (“Reabold”), a United Kingdom company that trades on the AIM Market of the London Stock Exchange under the ticker “RBD”, is the owner of DBRM-target company.

  • Reabold California operates ten wells that produce oil equivalent to 613,000 barrels of oil in the Sacramento Basin in Northern California, in which the company owns a 50% working interest.
  • As a result of this transaction, DBRM will have 1,085,000 barrels of proven oil equivalent with an estimated value of $17.0 million.
  • The production of Reabold California is approximately 70 barrels of oil per day.
  • It would produce approximately 100 barrels of oil a day if both were combined.
  • DBRM’s acquisition of Reabold California represents a defining moment for the company.
  • With the Reabold California properties, DBRM is excited to explore the significant opportunities this acquisition presents, as well as to continue developing legacy properties.
  • DBRM’s properties with shorter lives and higher production volumes paired with Reabold California’s longer lives and lower volumes will generate immediate positive cash flow.
  • With its focus on strategic acquisitions in the California market as well as exploration drilling in and around the basins in which DBRM operates, DBRM will continue to build shareholder value.
  • Furthermore, DBRM will pursue new business opportunities in other geographical areas as they arise.

The terms of the deal are:

An all-stock transaction will be completed, with Gaelic Resources Limited, a Reabold subsidiary, being the successful bidder for up to 45% of DBRM’s common stock. Additionally, Daybreak Oil and Gas (DBRM) will also sell its common stock to raise around $2.5 million to fund development programs both in the Sacramento Basin and the San Joaquin Basin. It is expected that the transaction will close by the first quarter of 2022, subject to approval by DBRM shareholders.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular posts

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

The 5 Best Inflation Stocks for 2022

100% free. stop anytime no spam

Get our free report on the stocks that we recommend for investors who want to protect their portfolios from inflation.

495128

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

The 5 Best Growth Stocks 2022

100% free. stop anytime no spam

505537

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

DOWNLOAD FREE EBOOK

BEST INFLATION STOCKS 2022

We put together a list of the best stocks that

we think can explode over the next 12 months.

SPECIAL GIFT

  What you will Get ?

   Best Inflation

   Stocks eBook

        Hot Stocks Alert

     before the opening

                  bell

        Special Offer

      and reports from 

        our partners

100% free. stop anytime no spam

GET YOUR FREE COPY NOW

DOWNLOAD FREE EBOOK

BEST GROWTH STOCKS 2022

We put together a list of the best stocks that we

think can explode over the next 12 months.

SPECIAL GIFT

  What you will Get ?

   Best Growth

   Stocks eBook

        Hot Stocks Alert

     before the opening

                  bell

        Special Offer

      and reports from 

        our partners

100% free. stop anytime no spam

GET YOUR FREE COPY NOW