jonesieatl.. it usually takes more than 1 press release to get a stock moving upward in a positive fashion, today we did not see a big sell off so that tells me that people see the value here. It may drop a little over the next few days however I was told a press release every week and a half, so if that remains true, the next press relases should strengthen the charts even more....HOWEVER it remains to be seen.
At. $2.00 this stock is still at 50% of it's PV-10% as evidenced by this part of a report.
Selected Publicly Traded Oil and Gas Companies -- Enterprise Value versus PV-10
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Arena Resources, Inc. 0.52
Clayton Williams Energy, Inc. 0.92
Goodrich Petroleum Corporation 2.11
Parallel Petroleum Corporation 1.55
Remington Oil and Gas Corporation 1.32
AVERAGE 1.28
Tandem Energy Holdings, Inc. 0.32 (when share price was $1.55)
There is no substitute for conducting your own research