Waiting on newsThe way NOG is acting its quite apparent shareholders are waiting on news!
There seems to be a seller trying to manipulate the stock down.
example the two TD to TD trades of stock for 1000($115) and 2500($287.50)
and there seems to be a buyer edging to keep the stock up.
CIBC trader buying 5,000 at a time versus simply buying them all in one shot. It could be multiple buyers but I think its probably the same guy simply trying to keep the stock up.
Realistically though only $6,000 has traded today in NOG. Most people are waiting on news! I will put a call in mid next week to see how the progress is going on the drilling.
What I can add is that yesterday Don mentioned that if the well turns out producing oil at shallow depths we could have news out a day or so into drilling. However if its a deep drill we are looking at 5 days to 7 days to complete.
I am wondering if they are going to work thru the weekend. This is something that I did not ask. Maybe someone here knows and can contribute.