Continual listing rule As stated above, the company has 180 calendar days to regain compliance. In that time frame, if the company closes at or above a $1/share bid price for ten consecutive days, the Nasdaq will inform the company that it has regained compliance, and close the issue. So, the matter then becomes raising the share price
If we stay above 1.00 for 6 more days, they will get regained compliance letter which will hit the press release. This alone will make the stock go up
best week for mid cap oil stocks CRC, CHK, SN, MRO, etc etc .. major rush of shorts heading for exit. Look for continual uptrend as oil climbs and shorts cover.
here is something worth noting. I listened to a free podcast from Jim Bell over the years (Just google and listen to free podcast in summer of 2014). He is a Elliot wave theorist. Anyway, back in the summer of 2014 he said oil would collapse down to 32.00. AT this time, everyone said it was heading up to 150 since it was around 100.00. Now that it hit 32.00 and lower, he also stated it would reverse to around 60.00 which we are seeing now. This bodes well for all the oil companies. I would expect to see Whiting, wll, back in the teens soon, CLR much higher too.
Enserveco should benefit too if this is the case. The reason mention whiting and continental is they are the major Balkan players. What we are now seeing in the oil companies like SDRL, MRO, Jones, SN, etc etc is a made rush of the shorts to cover as they since a bottom for oil has been reached. The next few months should be interesting. Of course i've been wrong many times :)
I guess lack of guidance/earnings/ etc has shut the stock down over the last few months.
But with the other oil stocks on fire, I hope ENSV follows soon. My best week ever with stocks CRC and CHK
I see a SEC form today. They added more at .40 cents. This has been the best week ever for oil stocks and ENSV hasn't followed. I'm looking for this to catch up to the oil stocks which have doubled in one week.
If it wasn't for the buyout talks, we would probably be at 16.00 just based on last earnings and cash on the books. Since they are dragging their feet, it is acting like a cap on the stock. Actually it almost forces them to sell. If no buyout offer we would be near 16. With buyout offer at 12.50, we just hang here no matter what and a counter offer might take us to 16