China North East Petroleum Holdings, Ltd.(fka CNEP)

[advalorem]

$4.60 Warrants

The Sepember financing gave 800,000 warrants to 4-entities with a strike price of $4.60.

The entities will clearly short NEP common and use the warrants as a hedge. That is expected and sound financing courtesy of Rodman.

Let the short positions sink in (I didn't see a NEP statement that the entities would not short NEP common), and we move upwards and onwards.

The stock's price maybe lost some momo with recent eps results which were down from $105/barrel to $50 or so...but yes, the stock is definitely a terrific bargain right here.