buying surge, page-7

Pecora,

Since the day it made it spectacular rebound from the low teens, nothing has convinced me more about the shonky nature of the guys running this thing, than the activities that have transpired.

They can't have much money left and the balance sheet must be looking pretty sick by now. So how do you keep the thing afloat.

Step 1
This stock has historically been a great churn for traders - so light the wick and creat a storm.

Step 2
Keep the storm running through the crap results to make it look like someone is backing them

Step 3
Get all the mates and underwriters out between 27 and 33 cents to keep them all happy

Step 4
Let them drift to a decent retracement level

Step 5
Pound them again and get those volumes up in and out

Step 6
Put another crap announcement out and support it even more - confuse the punters (they must be dumb - afterall someone is accumulating - not really they are just churning the damn thing)

Step 7 - yet to happen
Convince the shareholders that to recover their hard earned they need to drill well number two. Well 1 plus well 2 = a normal well = production.

Step 8 - yet to happen
Raise a truck load of cash - dilute the stock by between 1/3 and 1/2.

Step 9 - cross their fingers and hope that the same expectations run the shares back to the lofty heights as before as they proceed down on through their mediocre gas shows and the directors can cash in their 20cent options and say CYA.

If they did not get the churn and keep the share price up then they would be looking at issuing around 100 million shares to get a decent amount of capital for the next well.

My opinion only - but I don't see to many other reasons for this activity based on the pathetic information released thus far.

As I said before - ASIC will love this one.

No I am not an expert - Yes I do like conspiracy theory's.