This is sillyCNE is worth more per share right now (based on current production levels) than 1.40 something per share, and this is without the K2 results. People who are selling at this price are giving away their shares. CNE is producing approximately
6200 BOE/d (if not more now), and this was based on their Feb 16th news release. Unless something has changed fundamentally or with regard to the production levels, CNE's share price shouldn't be in the 1.40's or less and if it is, it is a screaming buying opportunity. I missed yesterdays drop, but have bought more in this price range. I have included an analysts opinion which iterates my point. Lesley Marks comments are below, and this was when CNE productions were substantially lower than what I posted above (unless something has changed, which I said earlier).
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| HOLD |
1.650 |
Lesley Marks |
Exceptional business plan and talented management. Fairly valued at this time and wouldn’t Buy more unless it got into the $1.40 level. 2011 will be a very exciting year, particularly on their Colombian prospects. (She has taken a little bit of profit.) |
2010-11-24 |