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Ugly past few days for SARA. Would like to know why.
L2 is amazingly thin on the ask side to .20+ We just need some volume or a update from the Co and this could fly easily.
Still too many shares being sold into 0.12, however it also seems to be showing that 0.12 is a strong base. SARA is likely at bottom here, and could move up at any time.
NICE CLOSE
With enough VOL this will take off into orbit. Great support at current levels
Nice big buy again!
Somebody is willing to accumulate SARA below 0.15.
THIS IS A GOLDMINE
and we need VOL people. SARA emerged out of bankruptcy and still holds PPS solidly above a dime.
Definitely nice to clear that block out. Also whoever bought that large chunk will be looking for some sort of return. SARA needs to get back into the 0.20s.
Lowest levels since they emerged from bankruptcy. Getting cheap but a update from the Co would be nice.
this is a dead stock. I wonder why. i loved it at one point. it was doing so good!
Ouch! Big sells for SARA. Wonder what the catalyst was?
Still up there today at the .16's ask.
It's not much, but the ask is higher than it has been in quite a while (we weren't able to get past 0.16 for a while now).
SARA
Come on where's the vol
Yes the only thing we need here is bid volume and this rebounds like crazy
Agree. Update/news and/or volume.
Emerges out of Bankruptcy; Needs VOL only and this will skyrocket to space.
CANT moved up his bid a little, I still think this is poised for another run
What's with all of the small 0.1475 trades? Seems like there has been a lot of 1-2k trades at this amount. Doesn't seem like it's a left over amount too small to show on L2, because the total of them must have added up to 10-15k by now.
SARA
Agree there's no way to know for sure but from the price action it doesn't look so eventually we should get an 10Q we will see then
Just for sake of argument, say a large portion of the shares sold after the BK were shares previously registered before the BK.
1. What would that do to the float?
2. How would anyone know until the next Q is released?
I'm just real suspicious when a company doesn't seem to be operating in a transparent way.
I believe so, even if I'm wrong, there hasn't been any significant dilution during bankruptcy, we still have a tiny float, will they will start now I don't think so.....
JMHO
So is it also your opinion the company can not be selling shares registered but not sold prior to the BK?
No debt = no convertibles
So your point is invalid
That is partially my point. The company was getting into financial difficulty and we don't know (due to lack of filings)if they had unsold convertible shares or not.
I got nothing signed but I recently spoke to Thomas and this is his words "We are not planning on issuing new shares at these levels" and on an previous occasion "That I have not sold a single share"
If the company is SEC Reporting - Delinquent, which it is since they haven't been filing recently, then dilution is highly unlikely. While the company is not current (if it is an SEC reporting company), notes are not able to be converted. So unless notes were converted before they stopped reporting, but not sold, then there is no dilution that can occur.
SARA
One of the things that troubles me is the fact that without filings shareholders have no idea if the trading action is from shareholders or if it is dilution. That is important to me.
Thanks. That's good, I was hoping it was CANT, or ARXS, or BMIC, etc...
Would you mind posting either a screen-shot or a summary of the current L2?
Cantor Fitzgerald an institutional trader and seems like is trying to support the PPS
You don't know the reason but there definitely is one. This is definitely not some OTC scam company, the management is highly professionals and skilled, they are not looking to inflate share price and have it tank with some garbage PR. And I'm sure they are working behind the scenes & they will let us know whats going on when they think the time is ripe.
JMHO
There have been a lot of shares soaked up by the 5k 0.135 bid over the last few trading days. Probably 100k-200k.
Which MM is it at 0.135?
IMHO this thing is going to tank. I can't figure out managements thoughts here. No real news, no words of a viable plan, and no SEC filings. Just makes no sense to me to keep the share structure intact through a BK for no reason.
Good for you
Me Too
News on 1/23/17 had some info...actually, $120k is available? Anyone see $120k as a material amount to begin extracting sizable reserves?
http://www.businesswire.com/news/home/20170123006064/en/
Excerpt..."Since our exit from bankruptcy, we have successfully sold our two remaining Gulf of Mexico assets. Pursuant to the sale, we brought $60,000 of cash into Saratoga with the buyer also replacing existing bonds on the properties which is expected to allow us to secure the release of existing bonds posted by Saratoga. We have submitted paperwork to secure the return of funds posted to secure those bonds as well as the bonds on two other Gulf of Mexico assets that we elected to release. Together, we anticipate receiving approximately $120,000 from the release and return of such bonds".
True but I guess then they should at least tell us that.
If mgt only investing $60k+ to find and extract resources, there may not be much to tell [for quite some time].
To management: Would it be asking too much for a update as to what you people are doing?
SARA lowest level we have seen since emerging from Bankruptcy.
This stock has potential for another run
Hitting levels not seen since around the 1st of the year here.
Past 2 of 4 Fri saw 1900-2400% rise on PTAM
True and IMO those stop signs get put out way too often on tickers these days. Used to be for those that showed dangerous signs/delinquent on filings for years when that isn't the case here.
I believe that once the company starts reporting it will be removed
I understand. Unfortunately only time will tell but we know that there is no debt, just clean out of bankruptcy so it there was a time for a company to start on a fresh clean path it certainly is now.
Possibly no worries but I have experienced warnings like this before and it even affects your ability to trade the stocks with some brokers refusing to trade them.
I think that is often placed on tickers when there hasn't been any recent filings etc.... I think it is often over done and done on many tickers which do not warrant it. No debt here, clean out of bankruptcy and like I've always maintained there had to be a reason they opted to keep shares intact when they could have so easily had them wiped out with the final discharge order from bankruptcy.
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http://saratogaresources.com/
Saratoga Resources, Inc., an independent oil and natural gas company, acquires, exploits, produces, and develops crude oil and natural gas properties in the United States. Its properties consist of 52,103 acres under leases, including 32,289 acres gross/net located in the transitional coastline in protected in-bay environments on parish and state leases in south Louisiana; and 19,814 acres gross/net under federal leases in the shallow Gulf of Mexico shelf. As of December 31, 2013, the company had total proved reserves of 17.2 million barrels of crude oil equivalent consisting of 9.2 million barrels of oil and 48.0 billion cubic feet of natural gas; and probable reserves of 16.8 million barrels of crude oil equivalent comprising 6.9 million barrels of oil and 59.5 billion cubic feet of natural gas. Saratoga Resources, Inc. was founded in 1990 and is based in Houston, Texas.
Saratoga Resources, Inc. is an independent E&P company engaged in the production, development, acquisition and exploitation of crude oil and natural gas properties with assets on state/parish leases in the shallow transition zone in Louisiana state waters and shallow Gulf of Mexico.
Saratoga Resources, Inc. Establishes New Production Benchmark and Provides Operations Update |
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