Another insider tradehttps://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=Pen&x=65&y=8
Must be Dean Thompson since QTRADE Trades 60,000 shares.
60,000 is peanut for Mr. Thompson.
Also you can see him on sone of the Alberta Securities Commission reports:
One of them. Search for Thompson page 8
https://albertasecurities.com/DisComp/Late%20Insider%20Reports/Sedi_Late_Filers-2010-10-21.pdf
If you are more curious:
https://albertasecurities.com/DisComp/Late%20Insider%20Reports/Forms/AllItems.aspx
TSX Venture Exchange
| Company Name : Pennant Energy Inc. |
Last Updated: October 26, 2010 |
| Date |
Symbol |
Insider
Buys
Volume |
Insider
Sells
Volume |
Insider
Buys
Value $ |
Insider
Sells
Value $ |
Insider
Buys
Transaction |
Insider
Sells
Transaction |
Currency |
| 10/26/2010 |
PEN |
0 |
60,000 |
0.00 |
8,700.00 |
0 |
3 |
CAD |
|
IMHO, this is to keep the price at this range to feed the friends investing in the Private Placement announced 2 days ago.
=============
2010-10-25 12:17 ET - News Release
Mr. Thomas Yingling reports
PENNANT TO DRILL OFF SET WELL
Pennant Energy Inc. will participate as to an undivided 50-per-cent working interest in a second well in the Watts (Pearl) project area. The well location, 102/07-16-030-16W4/00, is on land acquired at the Feb. 10, 2010, Alberta Crown land sale with joint venture partner Drumlin Energy Corp. The well is an offset to the successful Ostracod formation gas well, Pearl 100/07-09-030-16W4/0, drilled and completed pursuant to the earning terms of the farm-in agreement with Drumlin announced in the company's Feb. 2, 2010, press release in Stockwatch. The 100-07-09 well has been producing since mid-August, gradually ramped up from approximately 500,000 cubic feet per day to the current rate of about one million cubic feet per day. The 102/07-16 location is targetting similar performance. The economics of drilling the 102/07-16, though natural gas prices are suppressed, was made possible by prior capital investment in construction of the gas-gathering pipeline to the project area necessary to tie-in the 100/07-09 well.
The company has arranged a non-brokered private placement to raise up to $297,000. Up to $249,750 of the private placement will be raised on a flow-through basis as to a share only at the price of 13.5 cents. Up to $47,250 of the private placement will be raised on a non-flow-through basis at a price of 13.5 cents per unit with one-half non-transferable share purchase warrant. Each two-share purchase warrants will entitle the holder to purchase one additional non-flow-through common share of the company at a price of 20 cents per share for a period of one year.
The proceeds of the private placement will be used to drill an offset well to the company's first Watts well and general working capital.