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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Ed Ajootian who wrote (183110)3/28/2014 7:07:10 AM
From: Ed Ajootian1 Recommendation

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16bit

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American Eagle (AMZG) -- the reasons for their equity raise are already becoming more apparent. They filed an 8K this morning wherein they announced not only the exercise of the previously announced option to acquire some producing acreage for $46M in Divide County, ND, but also another tack-on acquisition of 5,000 nonproducing acres for another $7.5M. My hunch is that this acreage does not have all that much time left in its initial term so that is why they saw the need to keep a 2-rig drilling program going for this whole year.

Its going to be interesting to see what these guys can do now that they are all cashed up and drilling like hell, in an area that is generating tremendous economics.
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