Hi Tom,
Few days ago I could see 0.45 CAD for bid and 0.80 for asking price. The spread is high due to low volume, which makes the price extremely irregular. I cannot expect in any way the price reflecting the company's value on such conditions.
Also, I could not trade during a week due to the name change (broker related issue) so I wonder if other people had not that issue.
As a side note and being only my opinion (I am still a PetroRio shareholder), I do like the company's fundamental but I am a bit concerned about the oil price. Will Iran now flood the market with oil? China is deleveraging, so who is going to be the next saviour and engage in massive stimulus? Only Europe is left and as it is now, I cannot see a pickup on oil consumption in the short term. But who knows right? After all, there are unexpected events occurring all the time.
Cya!
