One last post This recent drop in share price (again) has really got me thinking about the power insiders have relative to retail shareholders like ourselves.
Let us think for a minute. There is absolutely no way retail folks would purposefully sell shares in CGX over the past two months in the absence of any news. Well I did, but that's because I was upset with management over their poor actions, but that is beside the point in this post. For probably >90% of long term shareholders, no one was selling (and in fact, many probably bought more). The sole reason... the literal fear of missing out (FOMO) on a halt would be too much for many.
However, if you have insider information (e.g., Calalyst Capital or alike) and get daily rig updates from the CEO/Director (such as De Alba), you can manipulate the share price however you wish becuase you know you will never get caught on a news release.
Look at what happened when CFO ditched her shares.... price went down hard on the news. These insiders for sure knew what the hell happened a couple days before and made a killing shorting the stock down. They then made a killing again on share price appreciation (especially since they knew 'postive' news of her firing would push the price up again (>30% in one day). The recent share price bleed from ~$1.60 (Nov 8 peak) to today is nothing more than black market tactics and insiders shorting the stock and playing the same games again.
At this point, these guys on the inside know whether Kawa-1 hit oil or not. No way Catalyst (who is De Alba's first priority) does not know what is happening. I sincerly think they probably did hit oil, but these insiders want to accumulate more shares before announcement of the big news in the next couple weeks. Its a greasy and sickening tactic they play, but they know they have 100% power to do whatever they want and the regulators will never do anything. Imagine if anyone one of us had "insider" informaton from the rig or CGX/Frontera staff and traded accordingly.... we would be in jail so quick it would be insane. Yet these guys get away with it everyday.
Anyway, that's my rant/ideas for the morning. Hopefully this bullsh*t end soon.