Sky Petroleum Inc. (OTCBB: SKPI) closed today’s trading near its high for the day at $0.52. The stock is up $0.175 a share, or 53.03%, on massive volume of nearly 2.25 million shares. This is more than 800% the average daily volume for the stock. Sky Petroleum was initially mentioned in QualityStocks Free Daily Newsletter back on June 23, 2009 when it was trading for only $0.12 a share. So, in just over a year, investors have seen their money more than quadruple!
Sky Petroleum is an oil and gas exploration company seeking opportunities where discoveries can be appraised rapidly and developments can be advanced either by existing infrastructure or by applying the experience of joint venture partners. Last month, the company announced it had completed and executed a production sharing contract covering three exploration blocks in Albania. The blocks cover about 1.2 million acres, which is equal to approximately 20% of the landmass of Albania.
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