RE: RE: RE: RE: RE: RE: RE: RE: Pump & dump?Agreed....
Goodconsolidation at these levels and with average volume falling off fromthe prior 4 days, which averaged at ~ 4million shares +, we should see some sideways movement until the news release comes out on the spud date on the two wells to be drilled in Feb. ( Feb. starts next week ).
Jan-29-2010
Open= 1.17Close= 1.10
Vol= 820,916
High= 1.185
Low= 1.095
JMHO but it seems that we should find Support at around $1.00+/- and Resistance between $1.18 to $1.28as we wait for a confirmed spud date on the 2 wells mentioned in the news release. Also based on what I posted previously:
* They have confirmed financing for drilling (totaling $600,000.00)
* Drilling to commence in the near future ( Month of Feb which starts on Monday)
* Continued interest in JYHW should increase as they get closer to spudding the 2 wells mentioned below.
JMHO... I will continue to hold.
JayHawk Energy Closes Financing -- Set to Begin North Dakota Development Plan
Monday 01/04/2010 9:00 AM ET - Businesswire
JayHawk Energy, Inc. (OTCBB:JYHW) ("JayHawk" or the "Company")President Marshall Diamond-Goldberg is pleased to
announcethe closingof the second of four tranches of JayHawk's $1.5 milliondebenture financing previously announced on December 14, 2009.
Proceedsfrom the second tranche, totaling $600,000.00, will be used to furtherplans to drill the first two wells in JayHawk's multiwall developmentprogram on its Crosby, North Dakota Madison Formation oil pool.
Tothat end, JayHawk has identified the first two drilling locations and isin the process of permitting these sites for drilling shortly after theNew Year.
The Company believesthe timing for this program is expected to be beneficial to its futureoperations as the price of oil continues to climb in response to astrengthening economic outlook and strong draws on existing storagevolumes.
Cynergy Advisors, LLC acted as advisor to JayHawkrelative to thisfinancing. Cynergy provides investment banking servicesto public andprivate energy-focused and energy-related businesses.