EXPM:PREGF - Post by User
Post by
umsurewhynoton Dec 23, 2010 2:13am
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Post# 17886852
Rumor is they're looking at shale
Rumor is they're looking at shalehey guys,
the main reason for the run-up the past several weeks is speculation that they will be acquiring some sort of shale play in Europe sometime in the new year.
several shale plays listed in Canada with similiar balance sheets and shares outstanding trade with market caps of $200 or $300MM.
so i think some investors here in Alberta are jumping on this one based on that rumor.
(i haven't bought yet, but i have friends who work in finance in Calgary and Edmonton, and this stock has come up--so one can see that rumors are definitely turning into shear buying speculation)
the reason i haven't bought yet is b/c the shares outstanding are 112 million, so at
.70, we're looking at an $80M market cap for a company with $20M in cash and no real signficant assets.
but who knows, maybe this speculation about a European shale asset purchase will catapult even higher, i simply don't know.
i'll await for the concrete news in the new year, even if i'm missing out on a further rise in the shares in the meantime.
GL!