New to AXLHi folks.
I just bought a whack of this stock today ($1.05)... only to see it drop to
.99 shortly after I bought.
So I did something uncharacteristic for me, in that I bought a lot more (some on margin).
My avg price is now $1.03.
I'm not a Bay Street expert, but I sense this stock might be oversold, as another poster suggested.
I've had this stock on a watchlist, and I've noticed the price come down close to 52-week lows.
My other oil & gas stocks (like REL, NAE.UN, and DAY) have seen significant gains this past month.
Yet AXL has been falling (which, to me, suggested a buying opportunity).
After today's price drop, I kicked myself a bit, and went back and re-did some of my due diligence.
I'm now resting a bit easy again...
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One of the major highlights from AXL's last earning report is listed below (regarding oil in Q4).
Since the start of 2010, the Company has drilled or is currently drilling 13 gross (9.1 net) Cardium
horizontal oil wells, of which 2.4 net wells have been placed on production as of August 12, 2010.
The Company estimates it will drill 21 gross (15.1 net) Cardium horizontal wells in 2010. The
Cardium oil production is expected to have a significant impact in the fourth quarter of 2010.
My sense is that a large majority of investors view AXL primarily as a natural gas company.
I think AXL may surprise some when earnings are announced next month (oil-related).
Also, we are heading into a winter season which climatologists have predicted will be colder than normal (La Nina).
Any weather-related bump in NG prices will likely occur as we head into winter, so seasonality is favourable.
I'm prepared to wait with AXL until the end of the year, as I feel there is upside potential with this stock.
GLTA