CWEI closed @ 12 5/8, +5/8, Bid 12 1/2 x Ask 13....Vol..62.4K
Well we were overdue for an up day, but this caught me by surprise. As I mentioned in a previous post, the first burst of trading occurred just before 12:00 EST, and 32,000 shares traded in a very short period of time--minutes; then an hour or so went by and we had a second burst of trades that carried the price up to 13 1/8. The sells at the close, which brought the price down to the Bid, were small trades. Oil was up at the time, but I have a hard time believing CWEI was reacting to the oil price--not with the sudden trading. Oil after being up as much as 0.38 in the morning, closed down 0.35; quite a swing for one day. If anyone hears anything, be sure and let us know--thought maybe an analyst changed his rating, or we had news on the Rachui, or Savell wells. CWEI did EDGARize their 10-K today, but it wasn't there when I looked earlier. CWEI's Board of Directors also met today.
Oil $20.64, -0.35 (CWEI received $18.78 in Q1 1996)
Natural Gas, $1.88, even (CWEI received $2.29 in Q1 1996)
CWEI receives a premium for the liquids in its natural gas, on top of
the stated priced. |
