RE: RE: if balay 2 does have decentMustangMatt, making a comment such as insider selling is completely false. Prove to us where you see insider selling. The only insider to sell any stock for as far back as you can go is Front Street who isn't a real insider but is classified so by TMX web-site since they own at least 10% of the stock (that's probably not the case any more due to the selling they have done). The last time they sold was Feb 11th 2011.
Going back to Oct 2010, there was real insider buying at prices above 40 cents per share. Ralp Gillcrist was also buiying, who to me is a person that knows the oil business very well (he was a exploration manager with CEPSA, CEPSA is a 30% owner of Balay) and it speaks volume that he left CEPSA for Petroamerica. The buying those real insiders did was at prices above 40 cents, so yes they are treadiong water also on their purchases.
According to insider filings for Feb 19th 2010, front Street bought 8 million shares at 25 cents. Front street probably also bought a lot of the financing done on Oct 22, 2009 at 25 cents. So for them to be selling shares above 50 cents (that's the price they did most of their selling at) is just taking some of their profits off the table, considering it's more than 100% return and don't forget that funds have rules they stick to in not allowiong one stock to become too big a % of their portfoliio. According to what I had seen on Bloomberg, they still have more than 20 million shares.
So stop spreading rumors of insider selling, ther has been none, also if any do sell, they are required to file in 5 calander days on SEDI, so we will definitely know:
https://www.sedi.ca/sedi/SVTWelcome?locale=en_ca&pageName=splashPage