Angle Energy Inc ANGZF

Reason for Drop

[maramos98]

Here the reason the 15% drop today.

They are spending 145-160 million in 2013 with production remaining essential flat (next to zero growth).

From news release:

"Current field estimated production, post closing of the Edson gas asset disposition, is 11,300 boe/d with 

approximately 27% light oil and condensate, 27% NGLs and 46% natural gas"

 

2013 Guidance:

 

"Expected production volumes resulting from the year’s capital program will be in the range of 11,300 – 

11,700 boe/d, with December month average volumes estimated at 12,000 – 13,000 boe/d."

 

 

 

[d_rr_whalen]

You may be right, here's my take on the reason for the drop. Jan 9, around 11am - gauge the pulse of the market with buy orders - buying wasn't pushing the market higher, start shorting, flood the market with supply, any buying kept the price down because the shorts are opening up positions. Jan 9, 5:12pm, operation update comes out, Jan 10, institutions started adding

[Luxor63]

This post has been removed in accordance with Community Policy

[Luxor63]

This post has been removed in accordance with Community Policy

[maramos98]

Share price continuous to sink with no end in sight!  

[toppgunn]

Market sentiment is very poor in resource stocks whether it is mining or oils.  Angle Energy is not unique look at most other oil and gas stocks which are trading at 52 wk lows or 10 year lows.  I do not own but this has been on my watchlist for the last month.  I am thinking it is best not to buy any resource plays at the moment.  I dont think a person will miss the bottom by