RE: Insiders unloading on aug 5Just like ACG...one of the other plays you kept slamming with the usual basher BS. You see the Friday run Yvrogne? 41% move when you've claimed to high heaven it can't hold .70 and was going to .40. Care for a refresher...
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=28451022&l=0&r=0&s=ACG&t=LIST
The very next post I stated...
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=ACG&t=LIST&m=28451022&l=0&pd=2&r=0
Less than 6 trading days later ACG on no news breaksout. This exercise is not to pat myself on the back but rather illustrate your lack of understanding. Most of your posts offer no critical thought and simply bash for the sake of creating fear.
Here is the news from Aug 4. Centric Energy reaches deal with Tullow for farm-in.
CENTRIC ENERGY ANNOUNCES AGREEMENT WITH TULLOW OIL TO FARM-IN TO KENYA BLOCK 10BA
Pursuant to the letter agreement, Tullow will earn a 50-per-cent participating interest in the PSC and will assume operatorship in return for:
- Reimbursing 50 per cent of Centric Energy's acquisition costs for the PSC which total approximately $750,000;
- Paying 80 per cent of the first $30-million (U.S.) of expenditures under the PSC;
So 80% of 30 million = 24 million + $375,000 for 50% of ONE field. That is a 24.4 million dollar committment. If you take the fully diluted share structure of CTE = 73.4 million shares issued + 18.7 million warrants = about 92 million. Multiply that by the closing price of .25 = 23 million market cap. So the market cap of the entire company is less than the $ value Tullow has agreed too. CTE also own two nice blocks in Mali..blocks 7 and 11.
There is a National Instrument 51-101 on the Kenyan block showing a best estimate of 2.2 billion prospective barrels of oil resource to a high estimate of 4.3 billion. If you look at ACG news dated july 20th they had a best estimate of 6.4 billion barrels in an area where recoveries can prove more challenging. They also have no partner at this time and now have a market cap well over 130 million on a fully diluted basis.
Here is the CTE 51-101
https://www.centricenergy.com/fileadmin/user_upload/Corporate_News_Releases/Centric_-_Kenya_10BA_-_51-101_Report.pdf
Lastly we have news the Sheldon Inwentash is still busy accumulating this stock. You can bet he was the Anonymous trader buying all of the paper at .30 on Thursday. It never hurts to have the deep pockets of Pinetree on your side.
https://www.pinetreecapital.com/company/info/
Yesterday looked like a textbook pullback. Afterall that was a huge run on Thursday and there is a lot of cheap stock out there... Of course it is possible it could pull back further but any dip will get bought by me. I expect barring an equity market collapse any paper below Thursdays high will be cleaned up in less than a week maybe two. The DD is out there staring you in the face.
I'm outta here until CTE makes a new high. See you then :))