Chaparral Resources - CHAR Message Board

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Microcap & Penny Stocks : Chaparral Resources - CHAR

CHAR 10.39

0.0%

Nov 3 3:59 PM EST

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To: Eakole who wrote (35)	11/4/1997 8:44:00 PM
From: Tom Genna	of 127

Eakole, I believe you have the ticket. Those news releases did coincide with exceptional activity in CHAR. On Sept 24 CHAR closed at 25/32 on 41K shares. On Sept 25, when they announced that they broke off the talks the stock spiked up 28% to close at 1.0 on 7 times average volume, 10 times the previous day's volume(461k shares). Clearly some investors believed or understood that this was not a bad move for the company. It seems to infer that a better deal could be had. Doesn't seem to me to be a meaningless coincidence. The Oct 10 news release announcing the promotion of Balgimbayev was greeted in the news as cause for uncertainty by those in the oil industry trying to get in to the area. Although Chevron publicly applauded the choice the move was viewed as a means to slow down the privatization process and could possibly give existing concessions there a better hand in possible negotiations with potential partners. The stock gapped higher that day on 937K shares the second largest volume this year. The next day the price reached 1.1M+ at peaked at 2 before profit taking understandably set in. It's not as logical to me that the news caused the spurt of interest on these days but if CHAR has ties to Kazahkoil then they may have a political as well as financial ally in the new Pres. good luck and thanks for the feedback........tomster

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