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$5 bucks a share? If you're right on this I'm buying you dinner!
That was NITE, the MM as they were on both the bid and ask side. They are the Axe, don't try and trade against them.
i'll take some extra at 0.25 if you're still selling!
Like you said earlier, anyone selling under Cantor Fitz is probably an institutional client, likely one of the original loan financiers.
Still not bad news, that's telling us near term resistance is in the 0.35 pps range. I remember the old days when cracking 0.10 was cause for breaking out the cigars!
Still lots more room to run well above 0.35!
What size lot were they selling on the ask side?
Agreed, heavy buying volume this afternoon with the ask sitting at 0.21
Have we flushed the weak hands already and now set to move into the next leg up?
Gents,
I've been out of the net for two weeks, please excuse what may appear as an elementary question. Do I understand correctly they are projecting another 7-8 wells in addition to the 7 already drilled?
also starting to see some additional articles out there on the internet commenting on Daybreak. ..
I did a google search last night and noticed new coverage. I think we will cross the threshold when interest moves beyond the small group of investors here and out into the mainstream investment community.
I think we may be witnessing the early stages of that transformation.
Anyone who didn't pick up some shares at 4 cents last year is probably kicking themselves in the ass right now.
What's next for Daybreak following completion of the six well drilling program? I haven't heard or read anything regarding this. Will shareholders be stuck in a holding pattern while daybreak seeks additional financing to drill more wells or will revenue from the six wells be enough to fund future E&P. Seems to me that financing appears to create the longest lag time moving this company forward.
Someone caught a bid for 800 shares...that's about all we've got this week.
It appears we are starting to see a good bid. Over 100K traded at 0.09...
Gold is beginning to decouple from the Euro debt crisis. By all rights gold should be on a tear right now. It makes you wonder is we are witnessing the beginning of gold trading as an actual commodity rather than serving as an investment vehicle to park cash during difficult times.
I'm not adding, not without a news event.
I would argue that Daybreak has a legal responsibility to inform its shareholders of possible problems and delays in their financing deal. I don’t see where disclosing this information would be an issue. It’s obvious they know something we don’t, meanwhile behind the scenes serious problems are going and shareholder equity has eroded to virtually nothing.
Much like Bird, I’m still in Daybreak but reluctantly at this point. I would be a buyer here if the company would get off its ass and make a genuine effort to keep its shareholders informed, either good or bad.
I would argue that Daybreak has a legal responsibility to inform its shareholders of possible problems and delays in their financing deal. I don’t see where disclosing this information would be an issue. It’s obvious they know something we don’t, meanwhile behind the scenes serious problems are going and shareholder equity has eroded to virtually nothing.
Much like Bird, I’m still in Daybreak but reluctantly at this point. I would be a buyer here if the company would get off its ass and make a genuine effort to keep its shareholders informed, either good or bad.
The promissory note was actually due on the 17th of September.
Has anyone besides myself contemplated calling the finance firm (Global 3 Capital) to see what information can be obtained regarding the status of the financing deal? I just checked their website and they still indicate they are working with a small E&P company in Kern California. Daybreak is not named in the statement, although we obviously know who it is. Not sure if this would yield any results other than being transferred on the phone to “Mr. Click”…
I spoke with Ed this afternoon regarding the status of the financing deal. He would only state the deal was delayed, and current contractual agreements regarding the financing plan were still intact. Once received, Daybreak would immediately commence drilling. Legally he could not disclose any additional information to me without running afoul of SEC rules.
My current outlook is still mixed.
Agreed. It's time to place a call into Daybreak...see what the hell is going on.
We are indeed deep in the valley again brother, time to dig in.....tempted to pick up some more up at 0.07 but will hold fast until we have more clarity on the deal.
At least we're not underwater like half of NY and PA right now.
Did they provide any details Bird as to the source of the delay? I’m concerned since a portion of the 3.5 mil financing deal was also earmarked to pay interest towards prior debt due September 17th. The debt holders always have first rights under any default situations.
Which drilling company is Daybreak under contract with that is experiencing an "overbooked" status? That's the other side of the trade I'm interested in.
Fellas..
Not sure if this has been posted already, but it looks like we have some coverage on the website Small Cap Network. Here's the link to the article:
http://www.smallcapnetwork.com/Oil-Stocks-AAPH-ERHE-and-DBRM-Have-Produced-News-But-Can-They-Produce-a-Gusher/s/via/3414/article/view/p/mid/1/id/61/
that would be rather quick, although welcomed news.
I bought some because when I grow up I want to be a Daybreak whale!
Excellent point, anytime we gain forward momentum in PPS, someone is too quick to step in a sell a chunk of 10 or 20,000 shares…
On that note, if (and when) M1 is selling, I’ll be the first to swoop in and grab those shares.
That's pretty optomistic...but I sure hope you're right!
Quite correct regarding the Kern county crude...very thick, API rating between 14 -16 %...the higher the rating the easier to refine. Kern crude requires steam and lots of artificial lift to extract.
Middle east oil is easy to extract, requires little (if any) lift to pull oil from the wells. The internal pressure from the oil resevoirs causes the oil to surface on it's own, which makes it very cheap to extract. The cost of extracting oil in the miidle east is $2 per barrel, $10 within the United States and $15 in the Gulf of Mexico. Kern crude is averaged at $15-18 per barrel.
It dosen't leave much beer money selling 500 shares after commissions.
Indeed..the floor is now 0.115.....don't look for 0.10 anymore
Gold Mining Shares??
Are you holding out on us Birdman?
About 10-15 bpd is average for this area