Octagon 88 Resources (OCTX)

[bhumiartha]

Because it's all a scam. The company OCTX has $7,000 in its account, warns in its SEC filings that it may not be able to access a draw down credit facility of a couple of million bucks, and it takes a minimum of $2.5 million to complete one horizontal thermal well.
Cold flow may work, but at max ten per cent recovery on a million dollar production well where are the economics that begin to make sense? How long will it take to recover a million dollars capex if you are cold flowing heavy oil at 10 barrels a day? The operator is the "private" CEC North Star and OCTX DOES NOT have operatorship of the lands it so loudly trumpets. Those are in the hands of CEC North Star, another Garry Tighe venture, which Garry will fold in a flash once he has determined that he has milked this one for all it's worth. As usual, it will be shocked investors who fail to understand the real meaning of words like "could" and fail to understand that the term "up to" includes the number zero.
By the way, the shares of CEC North Star that OCTX owns, are based on the same land where TAMM ran up a $82 million loss without being able to produce a single barrel of oil.
If you want a genuine buy, stick with DWOG. they got out of the Tighe clutches and are now a viable company with a very promising future.