Chimera Energy (OTC: CHMR), a developer of new energy technology and products, saw a 23% gain in the stock market today after announcing a deal with Petroleos Mexicanos, known as PEMEX, for a non-hydraulic shale oil extraction system. Chimera Energy executed a Memorandum of Understanding allowing PEMEX to use Chimera Energy’s extraction technology throughout Latin America.
The extraction technology is a revolutionary method designed to replace hydraulic fracturing. Chimera Energy’s technology uses no water and incurs no negative environmental impacts. This technology is especially useful in areas of the Midwest, where droughts are occurring and water is scarce. In addition, this technology can be used in extremely cold conditions since it contains no water that will freeze. The company is in the process of reengineering this new method for mass production, relicensing and sales.
Just days ago, on August 6, 2012, the company announced that it had executed a purchase order with America West Drilling Supply regarding a casing perforator. The casing perforator is an integral component for the company’s non-hydraulic shale oil extraction system. The casing perforator creates new ducts for oil to flow. It is operated pneumatically, reducing the need for water, blasting, ballistics or toxic chemicals.
Chimera Energy, headquartered in Houston, Texas, focuses on the energy exploration sector, specifically the shale oil industry. The company is also a leading supplier of polycrystalline diamond cutters.
After closing at $1.47 last night, Chimera Energy’s stock opened at $1.50 this morning. The range was broad, with the stock rising up to $2.00 before closing at a still respectable $1.81, reaching a 52-week high. The stock gained $0.34, or 23%, over yesterday. The stock has gained 30% so far this week. With the exception of a small drop on Monday, the stock has been consistently climbing since June 29, 2012, when the stock nearly doubled from $0.1375 to $0.25.
Volume also made some huge gains today. Compared to a daily average of just under 41,000 shares, today’s activity was 34 times that number. With 1.4 million shares traded today, the company hit another 52-week high. The previous 52-week high was recorded on August 2, 2012, when more than 540,000 shares were traded.
It is shocking to see that no major penny stock newsletters have even mentioned Chimera Energy despite the company’s consistent gains. The company is sure to gain the attention of investors in the coming weeks, especially as the news of its non-hydraulic shale oil extraction system makes the rounds and garners more attention.