RE: pep rally
And TSXs report from yesterday:
Last Updated: 23 Oct 2007
Total Number of Shares 74,793,902
Shares in Escrow 760,724
Net Shares Outstanding 74,033,178
Float Quoted Market Value 22,209,953
So there are about 3 million new shares, but we don't know from this information from what warrants/options they came from.
Last financings were:
May 2007 ($675,800)
Feb 2007 ($502,500)
Jan 2006 ($500,000)
It will be interesting to look at the next financials (should come out in the next weeks, I suppose).
High oil prices, two peaks of 600% increase in production for a while and new share structure.
From what I read from the financials, the company is in a good financial state, though a bit too conservative from my point of view.
With a better IR and a bit more sales experienced management (addition), they could raise more money to push this beauty forward with a much higher pace.
Management is a bit too much technical, I think.
It will work out, I believe, but I wish they would hire an experienced CEO that knows how to play the market, attract investors and direct those oiltech nerds.