PanTerra Resource Corp. hits a high note after Calgary Herald reports on shale gas.
As most on Stockhouse now know, PanTerra Resource Corp. (TSX: V.PAN, Bullboard) saw it’s share price jump nearly 200% as of 3:30pm EST on news that, well – that it was operating under “business as usual” conditions. The direct quote from this morning’s release is: “PanTerra Resource Corp. wishes to report that it was mentioned in a Calgary Herald article covering Shale Gas over the weekend and wishes to inform that it is proceeding with business as usual.”
Obviously, investors are more than a little excited about the prospect of shale gas, no matter what the “news” from the company. But one look at the article from the Calgary Herald on Saturday says it all. From the article by Shaun Polczer: “That's because tiny PanTerra Resource Corp. has almost half a million hectares of prospective land near Moose Jaw it says could hold more than 60 trillion cubic feet of unconventional gas reserves.”
The stock was halted at 9:36am EST Monday, “pending contact with company,” and this resulted in the “business as usual release.” The stock resumed trading at 11:30am EST, and the rest is history.
Buzz decided to go in search of what was being said by who on the PAN Bullboard before the news broke – just to see who might have been long at the right time.
In the famous last words category, this came from panproblem on April 9: “Now I'm no accountant, but it’s almost as though the company is close to becoming insolvent. But once again, what do I know.” And then later in the same post: “My opinion, sell what stock you have before it gets uglier and move into something a little more promising and exciting, cause this thing is tougher than watching paint dry.”
Of particular interest is that there was not a single post on the board referencing the Herald article until BFREE2, today at 9:24am EST, said, “I read an article on Panterra in the Calgary Herald on Saturday [and] thought, huh, maybe I'll grab some on Monday morning… WTF?”
Again going back to April 9, riverrow said, “My unfortunate experience with energy companies is that once they start coming up repeatedly with lame excuses it means they are headed for the dumpster.” Not this time, it would seem.
Fingers are crossed for bbate769, who said the following on April 3: “The price of natural gas has turned around and this stock is ready for some action I think. It was dead there for a while. Has not been much information released recently. Anybody have the inside track into where we are getting more info. I am under some pressure here and need to see some action in the next few weeks or I may have to sell my position.” The poster, however, disappeared from the Bullboard amid all the excitement when the share price took off and has yet to reveal whether or not he or she had to sell – right at the wrong time.
You can’t win ‘em all, but if you’ve been in shale gas plays lately, you’ve won a few.
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