Letter from IRI recently sent a letter into IR asking if the dip in share price was in anticipation of a failed effort to optimize the 3 twinning wells. Here is what he had to say;
" I too am disappointed with the recent market reaction but this sometimes occurs with thinly traded stocks; unfortunately, relatively small dollar value trades can set new pricing - as to your point. Our loss of share price was really atrributed to 107,500 shares trading (or a transaction value of 6,987.50 @0.065) on a stock with a Market Capitalization of over $15,000,000. Over the quarter Forent has added oil production, cash flow and has increased the NAV of the company with minimal dilution to the shareholder base. We are currently reviewing options for an additional round of drilling in the area, including horizontal drilling potential based on the success other operators are having to the West of our block-all very positive"
Sincerely
Rich Wade.
Thats what I got back, and mostly what I had already surmised. I had feared that maybe one of the roughnecks/tester/operator maybe had seen the results and dumped a bunch.