Arcan Resources Ltd ARNBF

Insider buying

[rookieoilinvestor]

I just noticed today that J. Terry McCoy, P. Geol — Interim Chief Executive Officer bought 12,000 shares at 90 cents yesterday. Vote of confidence that the stock is well priced? Also, article in Alberta magazine this week talking about Arcan and Second wave to be the "plays" in Swan Hills area. With the infrastructure that Arcan put in over the last year, and the tax benefits, I think the Bank reports on value 90 cents to $2 ( most in the mid $1.30-1.80) are low. I cant see Crescent Point letting this play go...they need to keep volume production up and a refinance ( as they usually do) could take Arcan out at much higher levels without batting an eye! Time will tell!