Pennant Energy Inc PENFF

RE: RE: RE: news

[wintersun10]

this year companies that announced financings have been hit hard, PEN is obviously no exception. why? well some like to get in on a cheaper price, then selling gets into a vicious cycle of selling.

so hopefully now they called off the second tranche of the financing and with some positive news they can get PEN into a virtuous cycle of buying.....we will see no doubt...

another step PEN could take is slow down the drilling of the wells so they need to raise less money and you get a situation where they can pay the drilling from future existing cash flow...