Virtus Oil and Gas Corp., $2.01, symbol VOIL on the OTCQB market (Shares outstanding: 49.7 million; Market cap: $99.9 million; www.virtusoilandgas.com), began trading in June 2014.
The OTCQB market, formerly called the U.S. over-the-counter bulletin board, has no minimum financial standards and includes shell companies and penny stocks with minimal operations.
Virtus was originally formed as Curry Gold Corp. It had planned to operate and franchise food trucks in Switzerland that would serve a German snack known as currywurst to German tourists. The company later planned to expand into New York, Washington, Boston and Chicago, because those cities had the largest numbers of German tourists and expatriates in the U.S.
In July 2012, the company abandoned these plans and entered the oil and gas business.
Virtus recently completed the acquisition of 87.5% of the Parowan shale gas property in southeastern Utah, which consists of 55,447 exploration acres. The purchase price was $458,215.
The company now hopes to raise funds to drill a 12,000-foot test well…
Privacy Policy and Terms of Use
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Changes to this Policy
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