Post by
Plus50 on Jul 17, 2024 1:36pm
news
Ok why does the market dislike the news. Trading below offer price??? Is it because they gave up 20%. When i mentioned a possible JV on the board i was told probably wont happen. I tended to agree with that because why would a company JV with a company that hasnt found anything yet. Well hear we are with a company that is not a nickel and dime outfit ( that i can see) that is working near by. But yet we are selling off at over 2 million shares traded. I guess someone is buying those shares.So hard to understand the market. I dont understand the shorting thought in this situation.
Maybe it will recover.
I have owned this stock since before it went to $ 12-13 just wasnt smart enough to sell then.
Any thoughts are wellcome.
Comment by
Ebenizer3 on Jul 18, 2024 7:45am
ok well wrong about the JV so congratulations!! BW energy wasn't on my list or radar. I think the issue is it's not a full carry on the next couple of wells. They have taken a position in reco, and everything else is based on positive results. Again a significant discovery changes everything. Good luck!
Comment by
bartno12001 on Jul 18, 2024 8:27am
It's a good buying opportunity. 1.15 is better price than the 1.25 equity raise and most likely there is something there. Otherwise there wouldn't have been that much interest. Don't take much risk like maybe have 2000 to 5000 shares but there is significant upside if they find oil. It could go over $10 even
Comment by
Adwari on Jul 18, 2024 9:14am
Yes, it's a good buying opportunity. When does the equity offering close? I read through the offering news release but somehow can't see the closing date for the offering. Thanks