Somebody buyed 400 000 shares at sp $0.16

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MaxValueHolder

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Somebody buyed 400 000 shares at sp $0.16

posted on Jul 22, 2008 03:18AM

That 400,000 shares trade was bought at the ask of $0.16 . The guy paid $64,000 for his shares. I don't think he is a small fry. He must have a pretty good idea that the wells they are drilling and the wells they have already drilled are going to pay off. At least that is my opinion. They are drilling in an area where there are known reserves that are easy to get to so the drilling can complete quickly and the drilled wells are close to pipelines they can hook into. I think drilling more wells can lead to fast increases in cash flow and the shareholders will see the benefit soon. PLTG's strategy of drilling more wells at this stage of their development is the correct strategy. Those who are buying the shares now have timed it right in my opinion.