Nutech Energy Resources Inc (OTCMKTS:NERG) share prices are up 100% to $0.00140 on the removal of the Caveat Emptor status of the company’s publicly traded stock on the OTC Markets.
This Caveat Emptor status loosely translates to “buyer beware” as a form of warning against information asymmetry. The company also disclosed that they are finishing the 2015 annual report and will release the results as soon as possible. As part of their transparency pledge, they have formally invited officials from OTC Markets to visit their operation in Wyoming and see first-hand how their company’s revolutionary technology works.
Nutech Energy Resources Inc (OTCMKTS:NERG) is a natural gas and oil exploration and development company. It has developed a patented technology for the production of coalbed methane (CBM) without the need to pump water. Coalbed methane wells usually produce large volumes of water when they are operated according to traditional practice, liberating methane gas from the coal seam and incurring costs related to pumping, handling, and disposal.
Nutech Energy Resources Inc (OTCMKTS:NERG) aims to solve this problem and reduce costs, not only for its own operations but also for the entire industry. This development of proprietary equipment makes the company uniquely positioned to be able to acquire and operate wells that were previously very costly. It currently operates in the Powder River Basin area of northern Wyoming and has plans to acquire thousands of additional wells.
“This is a very important development in our ongoing strategy. We wish to thank the staff at OTC Markets for assisting us in our quest to become as transparent as possible for the benefit of the shareholders. We now believe that we can resume capital raising efforts so we can finish the acquisitions that were previously mentioned in press releases this winter,” stated CEO Kevin Trizna in their press release.
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