Hanging Chart
It is quite baffling that this penny stock EOG is worth Can$400 million Cap...So far, there are vague data on their 15% interest in Jethro-1 oil discovery except in Tullow putting out news that their consortium partners have found pools of "good quality" oil. The numbers thrown around are 100 mmboe (10P unproven possible resource) that might or might not be commercial and touting billions of crude yet to be discovered...Tullow, Total and Africa Oil (owning 18% of EOG) had gotten modest bump-ups in price initially, but since then, the stocks have fallen back to pre-discovery levels, whereas, EOG went ballistic and shot up by as much as 300% on that news. It looks way out of step with the others, but for the touting and promotion...The stock is now hanging in mid-air like Wile E Coyote in the Roadrunner Looney cartoon being chased by the Roadrunner & speeding in a cloud of dust over the cliff looking down to the valley bottom below. Unreal.