Arcan Resources Ltd ARNBF

Insider Action!!!

[hallken48]

Nothing like selling at the bottom    130k   OUCH!!

[Quatchi]

How about buying then? Top 10 Stocks By Net Buys Value Symbol Company Name Insider Buys Value $ Insider Sells Value $ Net Buys Value $ PIE Primary Petroleum Corporation 216,540.00 0.00 216,540.00 BEL Belvedere Resources Ltd. 53,200.00 0.00 53,200.00

[hallken48]

sorry 173.900k sell

[bonjovi501]

Not to good to see insider selling as they must expect this to go a lot lower. Maybe I bought to soon. 

[bonjovi501]

To see us go to $1.68 is a disgrace and makes us look like a penny stock which we will soon become unless  we have a huge turn around. Should have stayed away from a falling knife.

[hardeehar]

I can't say that this comes as a surprise to me as Andy Fisher is the only insider doing the selling here. The writing is on the wall - Mr. Fisher is likely going to follow in his brother's footsteps out the door. IMO the mgmt shakeup is a good thing for the company and shareholders, as Andy probably shares the same business scruples as his brother. I would be more worried if we saw

[bonjovi501]

$1.64 and going lower. Watch the falling knife and fortunes are being lost in a matter of months.

[ch4sauce]

The House Of Pain!  Worth a buy at these levels, if they sell off the non-core assest for around $80-$90MM the balance sheet should be in much better shape.

[bonjovi501]

$1.62 and going lower and company had better do something or my prediction of $1.50 will be here before you know it. What the heck is going on?? I have an average price of $1.85 and now I am down over 10% in a few days.

[wordless]

"I have an average price of $1.85 and now I am down over 10% in a few days."   I wish.  I'm at $3.58 after averaging down heavily.

[ch4sauce]

The run in Oils is over for now, Encana, Talisman, Progress all the gassy names are up! I ownt Arcan at $2.20...thought that was a good entry point but once it levels off will avg down.  Lots of good things going on there they just need to complete an asset sale and get rid of that silly purchase of an acid company?

[teevee]

$80-$90 million for non core assets? I will be surprised if they get $30 million......

[ch4sauce]

$30 million for 1400-1500boepd?  I believe it is upwards of 85% oil so for some reason i cannot see it being sold for $20,000/flowing boe sorry.

[bullmarkets]

the virginia hill well was just drilled, so that will be on steep decline.  But i think they could get 40 million for the 2 properties.. On the acid company they will probably loss a couple of mill.

[bonjovi501]

Something has to be done soon as our debt will do us in if we continue to slide. Our debt is now twice our market cap almost and we need to get this under control. Sorry to hear of some on this site with higher average price.

[bonjovi501]

I posted a few days back that we would hit $1.50 and thought it would take a good month not days. I am in shock but I can not sell now as I am in for the long term and hopefully things turn after the weekend after Greece votes on the Euro and if they are staying.

[ch4sauce]

Market cap is $160MM now but what is their cash flow or net profits assuming 4000bopd and $50netbacks?  Should still be netting around $6MM per month.  I compare the current predicament as to where Petrobakken (PBN)  was last October ie: too much debt and everyone was saying they were going to fail....they were $6/share then and now are $12 after rising to $18.  This will