WAY WAY WAY OVERSOLD
It seems like every play is oversold right now, but IFR has crossed that point and beyond.
IFR is near 9 year lows. They have actually found oil in the NWT, and are planning on further exploring the area with Husky, ASAP.
They have some major properties in the N.Sea, to be drilled soon.
But look at the chart. IFR was $2.50 at its peak, $1.50 last year, $.60, 4 months ago, and now is touching 9 year lows.
IFR has lots of cash, they are one of the few plays that have not done a PP, which backs up their cash position, and they have a relatively small float.
The chart says IFR could go to $.60 quick.
IFR is the cheapest play on the venture, and is a gift right now