The Tiger Oil and Energy (OTCMKTS:TGRO) stock was in focus among investors again last week and generated weekly gains of as much as 10% amidst fresh interest. However, in this regard it is also necessary for all investors to keep in mind that there was no specific news about the company last week that could have led to this rally.
In this sort of situation, investors may often think that the rally may be entirely speculative in nature. That being said, it might also be the right time to take a look at a development with regards to Tiger Oil from back in August this year.
On August 4, Tiger Oil announced that its application to the OTCIQ had been approved and it goes without saying that it was a significant development.
At the time, the company announced that it was going to start with the work related to the submission of its financials as well as other related documents in order to be up to date prior to the deadline that had been set by the United States Securities and Exchange Commission. The company also announced at the time that it was working on getting the Upchurch lease into production mode yet again.