ARAKIS: HIGH RISK OIL PLAY (AKSEF) Message Board

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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)

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To: Razorbak who wrote (5994)	6/7/1997 11:34:00 PM
From: richard hawkins	of 9164

I've been reflecting on last weeks trading in AKSEF: Mon - average volume (450,000) Tue - 150 % average volume, first close above 4 in weeks (675,000) Wed - volume explodes, stock runs to 4 3/8, AKSEF releases drilling results , stock gives up gain but volume reaches nearly 4 million Thu - narrow trading range, volume 1.6 million, after the close Reuters (Calgary) releases story on Boardroom struggle which is not widely disseminated (not picked up by any other newswire including Reuters Business Wire) but bullish nonetheless. Fri - narrow trading range, return to average volume (450,000) I gotta admit I'm really perplexed by this action. There was enough volume Wed & Thur for a single buyer to have amassed a sizeable stake but probably less than the 5% requiring a 13D filing. For whatever reason, this buying abated on friday when I would have expected the Reuters' story to have added fuel to the flames. Any thoughts on this befuddling chain of events?

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