Welcome to the world of oil and gas....Pan Continental (PCL) gave the market a drill update last week...The SP fell 5.5 cents from 17 cents to 11.5 cents on no news. Then a few days later rather interstingly PCL went into a trading halt... An announcement....."A LARGE GAS FIND AT THE MBWALA 1 PROSPECT". PCL spiked to 25.5 cents. (up 96% on the day) I was so jealous! I held this stock a few months back and I was cursing. But then this morning, I noticed the "indicative price" was at 15 cents. My reaction was that it was an error. But it was not. The secondary drill was a duster and the first drill had gas but was a test well. Its like its a goer, then a duster... Thats the game. Now I am nuetral. Thats O & G.
NWE Price at posting:
7.0¢ Sentiment: LT Buy Disclosure: Held
