Hi FactorXI guess a Company won't necessarily know that a...

Hi FactorX
I guess a Company won't necessarily know that a subscription only newsletter has written a bullish report on their Company.
It does also point out the high risk factors around the Myanmar tenement tenders. More Companies than tenements so some will miss out and the larger players probably won't get all they applied for. HOG is a very small player among the bidders. I would expect the Myanmar Govt would select those that have the money to get started with seismic work and drilling holes in the shortest timeframe ConocoPhillips etc.
Having been a subscriber to the newsletter,and a sister publication,I know where probably 90% of the buying came from. It happens with most of their tips.

But the buyers broke the golden rule.
DONT PAY MORE THAN THE 'MAXIMUM BY-UP-TO PRICE'.
This was 2.8c. The instructions were to BUY @ 2.5c (last 2.3c 13/2 close)with a buy-up-to limit of 2.8c. The report came out AFTER the close of trading on 13/02. They opened @ 2.9c then up to a high of 3.9c and closed @ 3.7c.
A day trader could have got in at say 3c and out @3.8c for a nice trade.
The PANIC selling today is those who broke the GOLDEN RULE and just bought 'at market'.
"Stupid is as stupid does" (Forest Gump).

And today? A high of 3.9c, a low of 2.9c, last @ 3c.

Will I buy if they go to 2.8c? NO. The other play they had for Myanmar is not going to be crushed if they miss out as they have exploration and production elsewhere and $50 mill in the Bank.
Good luck. Could pay off but better risk:reward elsewhere.

A contrarian play would be to buy WHL Energy asx:WHN who are desparate for a JV partner for their Seychelles permits. Without a partner they will lose these leases. Cover a large area and they do have at least 1 major player who is very very interested. I bet this player is after a slice of the Myanmar leases, but if they miss out, or any other major misses out or only get a fraction of what they tendered for, I see the Seychelles permits being closely looked at. Geographically not that far apart.
NO, WHL is not a better high risk play, but if you wanted to take a punt on this Company that has continually disappointed the market, then have a dabble @ 1.2c.
IF JV happens, look for 3c to 4c. I would say the extension granted to WHN by PetroSeychelles(Govt) is because JV possible partner is waiting on outcome of Myanmar application.
DYOR