Insider Stock Acquisition & PriceThe last 10 insider postings are all green (ie: Stock purchases)four of which have been made as late as the 18th of Oct. As the insider could be compared to the steam engine for the train then I would say they feel that they are on the right track.
With approximately 22,000,000 shares, and according to Brian Hoffman of the Investors Digest, a NAV of $2.90 per share at 31 Aug 07, along with management owing 27% of Defiants o/s shares, no wonder the stock is thinly traded. Mr Hoffman, in his article of 19 Oct 07, states that "A potential takeover at $60,000 per flowing-BOE/d could translate into an offer of about $3.15 per share after adjusting for Defiant's debt"