Everyone was euphoric when DEJ hit $0.24. They the stock dropped when the company announced that there will be no Koko production until June. I guess everyone expected that press release to announce the commencement of produciton!!!! Originally it was supposed to be a Q4 event of 2012!!! The press release also said that they have plans to do a horizontal well in mid 2014.
I understood this as bad news!!! It shows that they can't afford to pay their high salaries and finance more wells or exploration. I just hope they don't dilute us with another offering.
I asked Craig why the company doesn't just pay for the $1.5 million 3-D imaging themselves since they think the property has a high probability of success. It seems to me that this would then put the company in a much better position to negotiate a joint venture under favorable terms. He didn't give me a clear answer. He only said that the company didn't want to #$%$ume too much risk. They want to use other's money to do this. My concern is that it may take a year or longer to do this since they have to find a partner then it will be done on another company's own terms.
Basically this means that the company will be sitting on their #$%$ for over a year with no new exploration or drilling until then mid 2014 when they can afford it. We have to wait until after the KoKo financing in paid off and DEJ gets to keep a larger percentage natural gas revenues.
The stock dropped like a rock over several days and hit $0.1625. Everyone was discouraged and pessimistic.
Now the stock has gone up two or three days in a row and a lot of people seem euphoric again. We still aren't even close to testing the $0.24 or $0.25 cent range. I own the stock and wish I had sold last time it tested and failed the resistance at $0.24.
I can't believe that so many people actually read my post and then got defensive or testy and had to lash out over it! :) Honestly, it doesn't matter what you or I think (or post) on this message board.
Just for the record, I never said that I was going to sell if and when DEJ rises to $0.24 again. All I did was point out the obvious and the facts. DEJ has missed deadlines on Koko at least twise and that everyone should have sold last time the stock hit $0.24 because when it failed at resistance it dropped down to $0.1625 and had a double bottom. That was one great buying opportunity.
Still despite my frustrations with management and exploration and well development moving along so slowing, I did buy more stock at $0.1753 on the way down and I just bought another 45,000 shares earlier today. This stock could double just from natural gas prices improving gradually. If they get lucky and find more gas or oil on one or more properties this could triple or quadruple or more some day depending on the size of the discovery (If I haven't died of old age first!) haha
Hey everyone has there reasons for posting and if people are dumb enough to base buy and sell decisions off of this message board then they probably shouldn't be investing in this stock.
Those who are pumping should just remain quiet and accumulate more shares since they are so sure that this stock can only go up from here... Some of those bashing are probably looking to shake out a few weak hands and buy more shares! Why else would someone waste their time following, posting about and criticizing a stock that they don't own or want to buy? Good luck everyone!!! :)
Well we are only 20% away from hitting your .24 target. Should happen real soon. I for one will be ok with the price staying low for the next year. More time to add big. Everyone has their opinions. Set your sell order for .24. I just might be the new owner of however few shares you have. Thanks for sharing your random thoughts btw. You sell, I will keep buying. Time is of no concern to me.