Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: Migbar who wrote (481)	5/29/1998 7:30:00 AM
From: Thean	Respond to of 14427

Migbar, your friend was right on both occasions. In February they confirmed oil show in their northest stepout well. In March they encountered mechanical problem which resulted in having to sidetrack which had been completed early May. During March and May the stock sold off because of two mechanical problems that caused delays. The company insiders also sold during this period (partially because of this knowledge and realized two months of dead money and partially because they need the salary). SEV has a history of rising on pending news/new leaks and dropping during period of no news. This is an established characteristics for this stock dating back more than a year. That's why it is very profitable to understand the timetable of drilling activity/events and establish positions in both direction accordingly. Time is a huge premium in the case of SEV and this is fully reflected in its options. The latest surge in price has everything to do with a positive news on their latest well which is a southerly stepout well which they will announce hopefully next week barring any further mechanical problems. Since you have a friend down in Columbia, you should make use of your connection to profit and maybe share that with others to profit as well. I'd strongly encourage your giving him a call right now and get a status report. Delays are norm in the oil field and should be expected - just so we don't get carried away with the latest surge.