Some ones head had to be on the chopping block when you spend $200,000 on a shareholder purchase plan and as it looks at this stage it will not be taken up. They could have just gone with the placement.
The share price is massively undervalued at the moment and this may bring confidence to the market.
May also be a strategic move of sorts, all we no at the moment is a second and third well into production come 2012, with that the share price will move much higher.
Also interested in the new CEO?s work with BP and the plan to look outside the Ukraine for opportunities.
There will come a time when a takeover will be on the cards by a bigger player.
Phase 2 here we come, hang on to your shares and seats and buy at these prices if you cashed up, I think something may be brewing.
HOG Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
