Last week, President Biden called upon OPEC to step up production citing the global recovery as boosting the need for inexpensive gas. Simultaneously, Biden has focused on selling drilling rights and resuming US offshore leasing for oil and gas production. In short, the demand for energy amidst global volatility and demand has been heightening.

In light of these overarching trends, oil and gas penny stocks like AXP Energy Ltd. (ASX:ASP, OTC Pink: AUNXF) and Allied Energy Corp. (OTC Pink: AGYP) are becoming hot commodities in the OTC market. With both companies pursuing acquisitions and enhancements of existing wells in the US, AUNXF’s success demonstrates AGYP’s potential as it works to bring its production online.

AXP Energy Ltd: AUNXF

AUNXF has been upscaling quickly while focusing on low cost, conventional oil and gas wells in the US. Displaying an excellent quarterly performance and continued financial growth, AXP Energy has caught the attention of many investors who propelled the stock to its 52-week high of .0193 on August 17th – a 466% increase since May. 

This run-up was a result of the Australia Stock Exchange’s (ASX) halt on AUNXF’s trading pending an upcoming announcement. Bullish investors are speculating that this halt is in connection with AXP’s recent partnership with Elite Mining Inc. Per their agreement, AXP will provide gas from its Colorado Pathfinder Field so that Elite Mining – a crypto mining company – can operate with lower production costs and greater efficiency. With plans to uplist to the OTCQB, an anticipated revenue report, and a new website in the works, AUNXF has enough catalysts for an imminent run-up. 

In July, AUNXF shared its quarterly net review which saw a considerable increase, jumping from 1.73 million in Q3  to 3.73 in Q4. This impressive increase can be attributed to the increase in oil sales which totaled 24,230 BBL for Q4 FY2021 – a 20% increase over its June 9th forecast. In August, the company announced that its month-on-month revenue continues to increase with a net revenue of $1.8 million for July 2021 – a 42% increase from June’s net revenue.

Allied Energy Corp: AGYP

Meanwhile, AGYP’s  acquisition of the re-pressurized Annie Gilmer and Green Lease wells in Texas has proved fruitful according to its Q2 results. While the company has yet to produce any revenue, they have made structural changes over the last quarter to reduce its total operating expenses. Cutting back 24.2% compared to 2020 Q2 operating expenses, AGYP has also reduced wages to streamline its budget.

Now converting employees’ accrued salaries into unsecured, non-interest bearing convertible notes, the company is showing its confidence and willingness to adapt in order to achieve oil production. As a result the company has more cash and cash equivalents on hand valued at $270,980 which are being quickly re-invested into the oil and gas sites. 

The company has been building on momentum from its July 22nd Green Lease report which outlined 229,400 “probable” barrels of oil and 448,000 “possible” barrels. This report was compiled by oil industry expert and AGYP Production Engineer, Mark McBryde. Then on July 29th, McBryde shared a second report regarding the Annie Gilmer site. According to his analysis, the site has 80,400 “probable” barrels of oil and 135,500 “possible” barrels of oil. Similarly, McBryde reported 192.2 million cubic feet of “probable” gas and 224.1 million cubic feet of “possible” gas. Of course, these numbers were determined in accordance with the U.S. SEC, therefore, these estimates are the most conservative calculations possible.

Reassuring its investors in a tweet, AGYP shared that it has secured non-dilutive funding for its current oil projects, adding that it will not entertain toxic funding offers and will continue to develop non-dilutive funding when required. Following a run-up in July, the stock has been trending downwards and is showing a new support of $.3510. However, it seems unlikely to fall back to its June support of $.2470 given the current demand for oil in the US.

Media Sentiment

Back in July, @pennystockmomo – one of the greats of OTC FinTwit – shared AGYP as a great dip buy option.

Recently, @og_tigress shared reassuring news on AUNXF’s trading suspension from AXS.

Technical Analysis

AGYP oil penny stock chart


AGYP’s resistance appears at 0.418 with a short term resistance near .39. Its support is near 0.35 and having tested it earlier today, the stock began uptrending with sideways accumulation. Currently its RSI is uptrending at 47.7 while the MACD is poised for upwards convergence. 

Currently, AGYP has a market cap of 22.6 million and a slowing volume of 35 thousand compared to its average of 398 thousand. Of its 300 million AS, only 61.7 million are outstanding.

AUNXF oil penny stock chart


AUNXF is currently showing short-term support at 0.0114 and a general resistance near 0.0167. Its RSI is trending upwards near 63.34 – showing signs of strength amidst fairly solid accumulation and at the momet its MACD is heading towards upward convergence. 

With a volume of 45.13 thousand and a market capitalization near  60.8 million With its steadily growing revenue and new partnership deal, it seems likely that this stock’s price will be going up soon, perhaps even surpassing its resistance.

Should you Buy?

With its current price point of $0.36, now may be a good entry point for AGYP considering that the stock price skyrocketed, reaching a peak of 0.8, after starting operations on two newly leased sites in June.

Given AUNXF’s long list of catalysts and favorable RSI and MACD, AUNXF is currently a solid stock option.


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