your analysis is pathetic. the run up in march/april of this year happened when all micro oil stocks (royl,lei,ssn) were taken for rides by the day traders in a classic pump and dump. the only way we get a repeat performance is if oil starts to take off. with all the economic problems we are facing here and abroad oil is range bound at this level for a while.
i am holder of cano who bought in around 30c. i have the patience to wait things out for a while. if they really are sitting on the reserves which they claim they have, this stock should be a winner down the line.