Checked volumes for a bit to find the explanation of those big dents on the charts this morning .Sell blocks of 100's that brought the stock down to as low as 1.50. It bounced back due buyers that dont want the stock to go lower and believe like myself that this prices are dirty cheap. I think shorters are running out of batteries today. We still have 4.5 hours of trading still. Lets see! hahaha I am multitasking at work.! Cheers!
Wow...from 1.90 it dropped to 1.80. Shorters still messing with this one ah. 100 sell blocks again. Still more buyers. If shorters get wipe out today. A big victory and reversal confirmed. It won't stop until 2.50. From Nasdaq:
I have been to their offices, and I have talked to all 3 employees. I am not sure who the 4th is (read somewhere here they have 4).
Not sure what you expect any of them to say. They really don't have anymore information about these wells than you do. They are not the operator, they are not the driller. They have a working interest, they have accumulated those interests, and they have made them available through a public offering of their stock. When they get information, they pass it along.
This organization is guilty of being overoptimistic for sure, but other than that, what else do you want.
They could sell the leases today for at least $2.50/share. The stock will do whatever the market does with it. I choose to be long right now.
I don't think shorts have anything to do with the price movement. A) the two blocks that were sold today, 76,500 and 88,000 shares respectfully were both sold at "Market". That is most likely yet another margin sale, certainly not a planned sale. B) The short interest on this stock is only 2,631,799. That is Down significantly from Septembers 3,712,827. I too study tapes, and I took a position yesterday, and will be building over the next few days.
Thanks for the information. I do live in Houston too( Sugar Land) At one point i was planning to visit their office and find out on first hands what the heck ia going on with no doing Press releases. But anyway, The bottom line like you said is margin calls thay have killed this stock so fast. Is gonna recovsr soon. Cheers!!