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Gold/Mining/Energy : Stanford Oil & Gas (SOG was STB)
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To: Flea who wrote (109)7/9/1998 2:24:00 PM
From: johnlag  Read Replies (1) of 196
 
I'm of the opinion that the rollback will eventually be a positive. Just to try to get some control over the incredible float out there. There's obviously been some mistakes on the promotional campaigns up to now that have created a great run to eventually return to new post volume lows.

I'm not of the opinion that the insiders were making any money on the decline, here. Quite the opposite, I know Busby was on the buy side heavy in the last push above the .80 range. The paper throwing traders are the only ones who got out unscathed this last round. I hope we can take care of that now.

Stock price decline is also directly related to market conditions - The energy sector is about as exciting as watching paint dry for the brokerage community and we all know where the junior exploration market is right now. VSE new lows, etc...

One of the positives we have got going at this point is the East Lost Hills prospect. CIBC even put out research on the play (re:Westminster Resources Ltd) and they talk about 1 Billion barrels potential just like we do. So if we hit, we're instantly covered by research in a roundabout way. Other than that, we're trading below asset value at this point and a rollback will help the float. At least there are some positives to look forward to.

Intermediate casing has been set, and we drill on. Should hit the top of the Temblor sands in the next 30 days or so. Cross your fingers.

Just my humble opinion,

John
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