Arcan Resources Ltd ARNBF

RE: !! BIG WELL TEST RESULTS IMMINENT!!

[opg210]

I hope you're right Hula, but not so sure it was well results that drove this spike...many o&g juniors had a good day. It may have been a short squeeze as the o/s short position was pretty high at the end of Nov, I think a million shares or so. I guess that's not that high but if many had to cover that would accelerate things. In truth, I hope it wasn't the short squeeze and that that is yet to come!
Someone on another board pointed out ARN's land sale acquisitions this past week - 12 sections (at least, a broker bought more in the area that could be ARN) in 60-14 W5 I think. This is the SW portion of the platform, Pengrowth has been drilling successfully just NE of here. I am really glad to see this, managment is not sitting back and getting comfortable with the good results so far. THe land they bought was pretty cheap (~$200/ha I think) so not a lot invested but they obviously see something. In fact, with the experience they now have playing the platform edge they might be very comfortable venturing into areas others wouldn't quite yet.
Also in that land sale, someone paid major cash for some land to the EAST of Arcan's big block - >$4,000/ha. If they are chasing the reef play and succeed, ARN just got worth a whole lot more. 
A great week for Arcan, let's hope the dual-leg results continue the trend!
Happy holidays fellow investors.
opg210