Energy index is oversold with bearish signs, pretty much the same as last year. It wont take long for investors to pick up on it, some are holding out for the release of energy dept and API figures tonight from the U.S. Although I dont expect a big change in the report.
I talked to epe this morning their not to happy about their share price being traded so close to issue and they dont like the amount of day traders in the stock. They are planning to do a road show, sounds like they are looking for a few big investors to take up some current issue which would leave less issue to trade with.
Reduce the amount of shares and they will get better stabilty with the share price by having a good portion held tightly by large investors. Since they know they have done well with Yellowbank and there will be cash flow generated from yellowbank and most likely smegsy investors will feel confident on making profits and getting good returns.
sounds good to me.
tp
EPE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
