well thats interesting , all in all thats a fair bit of money for someone to take flier on a .07 stock , that might not have oil or a JV parnter .....if I wasn't skeered I'd add some on that guys gut feeling ......luck
Hate to disappoint you. It was me selling. I'm cutting my losses and moving on. The new presentation did it for me. I suggest you take a look. The 3D only spotted the one pool around Spring Hill, 1 or 2 sections in size. If you assume a moderate recovery based on the reserves in the press release and an average netback and then subtract Oxy's portion, there's not much upside especially when you consider they still have to operate the company and will continue to spend money on 3D and drilling.
mutiny , might have been like you say .... but I'm a little surprised that someone was able to sell 109500 shares at .072 because they wanted out ... looks a little more like someone wanted in and was able to buy that many shares from a number of sellers .....but eitherway I'm holding .....wouldn't take much of a news worthy item to make 50% from here .
I am with you mutiny, time to sell this poor acreage and co. and invest the money in some worthwhile e & p's that have some production. My opinion 6 months ago. Give it up Mike while you still have some seed money left.