The rally has started two days in a row now. Yesterday up 3%, today up 6%. CAK is about to skyrocket when production is announced in Q1 and the Q2 financials will be the best financials this company has ever generated. Then, reserves are increased in Nigeria and Ghana, and exploration wells are drilled in Nigeria, Gambia, and onshore Kenya, and Ghana development wells get drilled. CAK will then be sitting on a billion barrels of booked reserves to take advantage of the turnaround in oil prices in 2015. Hang on tight. Time to fly! Oh yeah, and the 15 million shares short will be forced to close their position and buy CAK. What will this stock go to when 15 million shares are immediately purchased in the open market? That's what I'm talking about! 2015 will be an unbelievable year for this company.
I'm wondering if the uptick is due to EOY profit taking (buying) by short sellers. They'll probably convert to the long side in January--meaning even more buying and a gradually rising share price in anticipation of completion of the 2 new wells. IMO, of course.
Technical charts show that $0.30 per share is the bottom, and today's volume and 3% uptick is proving it true. CAK is about to skyrocket when production is announced in Q1. Then, reserves are increased, and exploration wells are drilled, and Ghana gets drilled. CAK is sitting on a billion barrels of reserves to take advantage of the turnaround in oil prices in 2015. Hang on tight. Time to fly! Oh yeah, and the 15 million shares short will be forced to close their position and buy CAK. What will this stock go to when 15 million shares are immediately purchased in the open market? That's what I'm talking about!
He signed the Gambia licences in May 2012 and the minimum work obligation by the end of the second year was: "..with the first two work obligations (regional geological study and 3D seismic data acquisition and processing) due prior to the end of the second year."
Why would he do a reverse split when he just did a forward split.
Kase has said no reverse planned at this time.
Word has it to certainly expect a big uptick in early 2015, from a very good source. The problem is how to keep the stock from hurting if they go ahead with the reverse split. There is a lot of oil and profits there.
Here's how quickly oil can bounce. On 1-1-09, oil hit a low of $32.70 (our last recession). On 1-1-10, oil hit a high of $83.95. Boone Pickens said recently oil will be at $100 in 12 to 18 months from now. I would believe it would be prudent to count on an average of the extremes $60+$100/2=$80.
I guess the share price would go down and lawsuits would ensue. I do appreciate your taking the time to reply. Kase has been around a long time, and I don't think he's in it to lose. He probably has something else up his sleeve. I still think the share price is about as low as it will get, but I've been wrong many times before. This is, indeed, a risky stock.