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Old 05-26-2009, 03:16 PM   Nav to Top 
AdamJ
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Was about to post this in the VIP section but, see I already did. The swing position hit $1.60 on May 12th.

It's dropped again most likely as a result of the dilution and questions surrounding their debt. Even with the dilution the book value works out to around $2 a share. Current production is 18.3k boed and the bought deal financing should secure the long term debt facility.

I'm going to give it a watch with a target buy of $1 if you can get it. IMHO it's good for another swing but, would recommend a skimming strategy if you want. Buy three times your target shares and sell 2/3 when it crosses $1.50

Last edited by AdamJ; 05-26-2009 at 03:16 PM.. Reason: wording
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