GREY:PTVYF - Post by User
Comment by
supserstaron Jul 28, 2011 1:42am
329 Views
Post# 18881611
RE: The stock price and the charts
RE: The stock price and the chartsI am not sure technicals are all that relevant at this point. It is a microcap that has had very low volume for months, is two months behind on news, and in the last couple of days seemed to have one or two or three investors bail on their position. I am assuming they don't have any inside info because the IR people don't even have an update on drilling. Also, I don't think this development drilling is the type that can really go that bad. Tartaruga in Brazil alone is worth more than this even at 200 bopd. Tartaruga alone can be worked out to double production. Morichito or M5B are worth .15-20 cents each if they produce 500 bopd.
I think more than anything the market is bored, frustrated, not getting any info, and a few people decided to bail out this week. I can hardly blame them, but we as shareholders are all paying for managment's in ability to hit a deadline and to communicate what they are doing.