A few observations on the day's events:
The post that balance made about the Addax ipo contained numerous editorial comments... especially the statement that they had given erhe the $18mm cash..... Shea at his best. There is no way Addax will part with that kind of money until the psc's are signed.
Now about the release of the results of cvx's drilling... As I recall, the bid documents contain confidentiality clauses, and I believe the psc's do also, giving the jda control over the release of this type of information... it's not all at cvx's discretion.
On today's trading: not bad for message board rumors. There are a lot of traders in this stock, and it will take continued volume to sustain the gains. We need another sideways day here to open up the bollinger bands a little more before the next leg up. I'd like to see a close of .85/.86 tomorrow on 3 million shares or more.
On the near term future... with psc's on 3 & 4, we'll have a cash infusion (we don't know ANYTHING about the payment terms Joe) at some time. We can assume that it is structured such that finances for operations will no longer be an issue. period. But better than some cash, we have contracts, and that should keep up in the dollar(s) range. Next will come the psc on 2. We don't know who it will be with, but we can use b4 as a guide, and expect something a little better thinks to cvx........ Once the psc is signed on 2 AND the drilling results are made public, we become a company that is debt free, with enough available cash to meet any needs in the foreseeable future, and proven reserves. The asset value of the PROVEN reserves will most likely be adequate to qualify us for the nyse... but due to the waiting period, we'll probably go to the nas first.... might just jump right over the small cap..lol Throw in the probable reserves along with a share price of $5 and listing on the nas, and the fund managers can start drooling all over us. By the time they're through slobbering we could be $20/share this year. Think about it.
