The words “impossible is nothing” from a popular commercial go very well with the development-stage oil and gas company Blugrass Energy,Inc.(PINK:BLUG). You really have to be a true believer in order to just sit calm and chase away all the questions that come to mind when considering it in terms of investment potential. Indeed, there are many people out there, who have high hopes for this enterprise and buy the stock. Yesterday alone, the trading frenzy, sparkled by the announcement on a completed acquisition, caused massive volume of traded shares. 
Naturally, the price nearly doubled, the session closing at $0.038. It is likely that the upward trend remains, it is unlikely, though that the strong pace of increase remains too.
It is interesting to mention that the more information you find about this company, the less you know about it. The facts are there, but just to raise more questions. This goes for the financial statements, for the main line of operations and other aspects of Blugrass. One reason is up until recently, Blugrass was actually devoted to DVDs rather than oil.
Consider this – the company was founded in 2006, for the purpose of manufacturing and selling marine DVDs. After two years, which were obviously not quite a profitable period, a sharp turn was made to the oil and gas industry. And if you are wondering how anyone besides a blue chip company can accomplish that – hold that thought, because controversy is yet to be revealed to you.
So Coastal Media became Blugrass Energy. Since that time, lots have been said, yet limited start-up operations have commenced. Then, we come up to the recent acquisition of oil and gas lease. Quite positive, according to most players on the market yesterday. What they also should have checked, is the balance sheet. Here, there is only one number that should be mentioned -68. This is the number reflecting the total current assets of the company up to Dec. 31st, this is what actually the company has in cash. [BANNER]
Now, there are of course other ways to acquire properties and pay the personnel. Let alone, since enough people are buying the stock and pushing the price up, there are possibilities to make some money if you pick your in and outs right.
Otherwise, it is a foggy future that lies ahead for Blugrass and a long way before confidence in investors is gained. By the way, even if you like the new name, don`t get used to it. It would be again changed very soon, yet again reflecting the future focus of the company.
