RE: Insider PositionIt is also possible that AL injected new money into the company by taking the PP and hasn't sold any of the 8 million shares yet. How much notice needs to be given before selling shares? In effect AL is just loading up at these prices with the green light to sell.
Yesterday I bought some more at a price I'm very pleased with. I think I'm done buying as I have a good position and I'm out of money. There is definetly oil there, the question is how big. The range I have heard is 0.5 to 1.8 billion barrels. Even at the low end we end up with a pretty impressive stock.
I have it in my head there is about 76 million shares out there with AL having about 27 million, does this sound right. So:
(500,000,000 bbl x $25 x 0.125) / 76,000,000 = $20
(not counting further dilution)
Mikey says "I like it!"
KD