Kendell,
I don't know that the offering is available unless you happen to know, and do a lot of trading with, a brokerage that has shares allotted to them. I queried Hanifen & Imhoff for a number of shares and received a negative reponse. Lujuanda Holder, Director of CWEI Investor Relations submitted my name to Rodman & Renshaw as having an interest in purchasing shares but that was very recently, and I haven't heard from them as yet. A friend, who has brokerage friends, asked if they could get shares for me, and they spoke to the underwriters and were told there weren't any available. If you hear differently, please let me know. One of the benefits would be that there is no commission on the offering shares. I spoke again this morning with Hanifen & Imhoff, to verify the offering was still on for Nov. 14, and it is. Regarding a requirement to hold new shares for six months--for IPO's yes--secondaries???
Other than that, CWEI took a hit today, very strange trading, but until the secondary is concluded I expected to see some of this. You are right, there should not be any costs sustained in the fourth quarter for the 3D seismic survey or for the third drilling rig.
Buzz |
