Post by
valueplaysonly on Feb 17, 2011 9:23pm
I disagree!
The stock was in a relatively tight range over the last year compared to where it was in the last 5 years. From a purely technical standpoint, the stock had come close to hitting 5 dollars 3 times and was stymied. On no news this would have popped through the resistance. The news is an added bonus. In an increasing interest rate environment shedding 38 % off the debt in a single transaction is a great move. Moreover, now the Company is almost split in reserves between Oil/NG and dry gas. This was brilliant execution. While there may have been a leak , I think the stock traded on a technical breakthrough past 5 dollars. And it had been below this for a long time and its cheap in relation to a 5 year chart. Also, add Middle East unrest in the picture and you are seeing a flight to safety in proven reserves in a stable country. Galleon is next, NVA and FEL will continue to march higher .
Comment by
valueplaysonly on Feb 18, 2011 3:31pm
I told u it was going higher . In my view we will consolidate in 5.25 to 5.50 area , then 7 dollars by mid April.