What Does Overbought Mean?1. A situation in which the demand for a certain asset unjustifiably pushes the price of an underlying asset to levels that do not support the fundamentals.
FUNDAMENTALS ON PRICE GOING UP
Mooncor Continues Testing at Western Canadian Shale Gas Project
| March 25, 2009
Calgary, Alberta – Mooncor Oil & Gas Corp. (“Mooncor”) is pleased to provide an update on its 100 percent working interest Western Canadian shale gas play.
Further to Mooncor’s news release on February 19, 2009, Mooncor has compiled recent flow data and retrieved initial pressure data from its pilot well. A subsequent flow test of the pilot well was undertaken and new pressure recording gauges have been installed in the wellbore. Mooncor and its technical advisors are evaluating this preliminary data. The results of the final reports will be disclosed in late April 2009 when testing is completed | |