Another very small float example Congrats to everyone who bought in today and made some money here, I totally fell asleep on this play and missed out.
People have asked about any other potential companies with small tight floats and I’m pretty sure I know of one of the tightest share structures on the Venture. Currently this company is awaiting drilling results from another company they are in partnership with.
This area is known as the Green Point Shale formation and it is located in Western Newfoundland and some consider this to be the last undiscovered oil shale plays. I won’t write out everything I’ve researched or spam this bullboard but here is the share structure of NWest Energy Corp NWN.v
- There are only 9.4 million shares outstanding.
- Management owns 4.3 million shares
- Vulcan Minerals owns 2 million shares
This leaves approximately 3 million shares for retail and institutional investing. If this play is economic (should know in about 45 days or so) it’s going to be fun to watch people fight for shares.
Disclosure – I do own shares, you will see I have posted on the forum within the last month. Here is a link with more information that someone has kindly put together.
https://www.statesidereport.com/Four_Horsemen_of_the_Green_Point_Shale.pdf
Cheers,
Dutch