RE: RE: RE: Oiljack IV They are going to have to wage an uphill battle, when over 500,000 shares only just manages to bring the SP back to the previous close. I am certain the company was the buyer in the last few minutes that brought share price back to 67 cents.
Hopefully they are buying into short sells, which will then cause whiplash when the shorts finally hit capitulation. Any positive production news will do the job. Right now their unhedged production is getting more than $10 above budget.
Another thing to keep in mind, they are showing to have total debt of $131 million versus line of $165 million at the end of Q1, so either they have no concern that the buying program will stress the banks.
Hopefully the volumes will stay such that they can quickly fill treasury with sub almost 20 million 70 cent shares. And if they could just stay off the options peddle, I would hate to see these shares reissued to insiders.
Terr