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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (14833)	12/10/2005 10:47:14 AM
From: Ed Ajootian	Read Replies (2) \| Respond to of 37387

Tommaso, Sharon Energy (SHY.V) -- Always great to find another Sharon fan, thanks for your post. Folks may be leary of buying a Canadian junior energy stock at its ATH, but IMO the stock is a better buy now than when it was $.15 a year ago. Yesterday there were 2 key question marks about the company that got answered very positively. One, the question of how in the heck this company was going to quadruple its production by April, as they projected in their presentation that came out last month. By being able to keep the same rig they have going now, to drill out the next well in their Hound Dog field next month, the production from that well is how they will make it to that exalted production level so soon. With rigs capable of drilling to the depths that Sharon requires being so tough to get, until yesterday there were legitimate reasons to question whether Sharon would be able to reach that level of production in the timetable they set for themselves. Second, any questions about them being able to sell out their PP, the largest equity raise in their history, were answered with a resounding "yes" yesterday. There is no way the stock would be trading within a penny of its ATH unless the road show for the PP was going well and it was looking like it would sell out. Mind you, this is a stunning achievement for this company. A year ago they tried doing a shitty little $1 M flow-through placement and had to settle for just $800K. Until yesterday folks would have been justified in being cautious about this company, for very valid reasons. Now, those reasons are no longer valid. The biggest mistake folks are gonna make with this company is to look at the stock price chart and think, "its gotta come back down, I'll wait for the pullback". Maybe that will happen but maybe it won't, but if it doesn't you will have lost out on a shot at getting in on a great story before it has hit the mainstream, just to take a shot at getting your position for a few pennies less than otherwise.