So, JC, are you thinking some naked shorting is going on?
You might be right, but on the other hand, even if that's not it, what's happening to EFCR isn't really surprising to me. Is it to you? With nothing substantial happening, and nothing definite on the horizon, I think it's also possible that a lot fairly strong longs had seen enough and gave up. If people are truly afraid it could go to a penny, I guess .035 looks pretty good. There just doesn't appear to be any strong reason to think there's an end in sight.
Wish there was a sure-fire way to know how low it will go. If the majority of shares are held by insiders, and they aren't selling, then it seems like we're bound to be reaching the very bottom now. But every time I think that, we go down another half-cent or penny.....and on not all that many shares traded. This morning we were down a half-cent and not even 200,000 shares had been traded.
BTW, what do you think Gregg Fryett did (or is going to do) with his shares?
Oh well, no point in even entertaining the idea of selling now.....IMO.
BTW, I'd like to know your opinion about a couple of things from the 12-06-05 update.
What's your opinion about the Ten Mile Draw project? Is that something that could really be substantial or could really help, or are you still thinking it's just a way to make some money to finance other (bigger) projects and an attempt to limit dilution?
Also, where will the additional funds come from in relation to this statement:
"To date Firecreek has invested in excess of $650,000 (USD) toward its unit goals in Kazakhstan and expects that additional funds will be required this year toward finalizing a feasible joint venture acquisition opportunity beginning with the Kamenskoye proved undeveloped field. If successful, additional funds will be required for ongoing acquisition and development programs."
According to Bud Faulder, they will NOT be diluting the stock. So where will the money come from? And if they don't get the money......then? |
