GREY:ENGFF - Post by User
Comment by
TheRealJRLon Sep 05, 2008 5:34pm
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Post# 15435127
RE: Insider buyings?!
RE: Insider buyings?!Stellar seller, sure they may be. I have seen this kind of behavior several times in oil/mining exploration companies and biotech companies who were about to present news which would affect the SP in either way. Since its just 1/10 wildcats that actually hits something is not strange to see a broker short such stock as Eng. They probably short lots of companies like this since the rate of success on such short postion is very high.
As we all know Eng is not part of the testing and they have no knowledge about the outcome of this. They will have to read the news on newswire like the rest of us. Once the news is out and they have let their consultants analyze the log they could choose to re-enter THIS WELL. They are still part of JV for the entire block.