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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Celtictrader who wrote (142176)	12/3/2010 9:12:56 AM
From: Ed Ajootian	1 Recommendation Respond to of 206326

Celtic, Doral Energy (DRLY) -- well we got ourselves a signed deal here, hopefully they can get it closed. The PR did not mention any unusual contingencies so I presume there are none, but we can't be sure until we see the 8K of course. Amazingly they are doing the reverse at only 1:55, that's a lot better than I had feared. Odd that they chose 55, and not, say, 50, or 60, just to make the math easier. Maybe they didn't want to make the math easier????? They say they plan to close by the end of the month which seems like quite an ambitious schedule. This would only be possible if they were already pretty far along on the legal matters. This is a great story. I believe at least initially they are going to try to be the Northern Oil & Gas (NOG) of the Permian Basin -- remaining a non-operator but judiciously getting a piece of all of the better plays going on. This strategy has been looked down upon in the past but companies such as NOG have shown that it can be successful if you are in a hot play and you play your cards right. Notwithstanding my ebullience for this story, I dare not buy any of this stock right now, in deference to the knee-jerk reaction that is likely to occur as a result of the reverse-split announcement, combined with tax-loss selling season being in full force. But I will definitely be buying more of this stock at some point before Christmas.