GREY:STPJF - Post by User
Comment by
rehsifylfon Mar 09, 2010 3:20pm
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Post# 16862190
Been away for awhile
Been away for awhileI was in this stock a few years ago (one of the offerings) and exited with a good profit, only because speculation was pretty rampant (not just on this stock but on the oil sands land rush) and I wasn't sure whether what they had was real or not. Since then I've left it on my ticker, bought a few thousand shares in my wife's account at .86 and have been watching with interest for the past two months.
Yesterday, I liquidated some recent gains and today I jumped in for 30K of STP at 1.05. Hope to get 100K at close to avg price of $1.00. I did that last year on a stock that has similarities to STP (lots of potential reserves, some production to provide cash flow, and an expereinced mgmt team).
Not sure when the financing will be completed at but, if they can increase 2P - I expect they should be able to get banks in for ~$70- $100 and that would mean equity for about another $100M. I imagine they could do an offering of 100 Million Shares @ $1.1 - once they get scheme approval. Even if they finance at under a buck, getting in on it, will be difficult - so I'm happy to start accumulating my position now.
I look forward to being able to post on this board in one year's time and reflecting on the start of another great ride.